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I have been expecting a pull back in the General Markets, but notice what happened on Wednesday...
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NASDAQ - That had a pretty good size drop and the volume increased. Also look at 3 month daily charts of TWTR, FB, GOOG, ( Even AMZN yesterday) , SQ, etc. They are dropping from the highs, so ...
It looks like the pull back has started, however,
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DJIA - The DOW closed higher with increasing volume. Interesting, and ...
Read MoreThe theme picture that I drew up speaks for itself. I will address that after a market review...
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SPX - The SPX broke out above the upper trend line, but dropped back down on Thursday. We see a gap & the 10sma below, these could be initial targets, so let's see how things play out.
Read More Let's discuss the current set up in various market sectors.
Read More1. Last Night I mentioned to my readers that I was seeing a drop in Gold coming. Gold was at $1212, and I posted this chart saying that we could see a drop to $1200. That is not a big deal, but we are waiting for a short cover rally, so apparently we had to 'expect delays'...
2. The drop started here, and I posted this in the comments section. Again, not a big scary concern, just Expect delays..
Let's talk about Gold $1200
Read MoreA Monday night report should be short, because we've only had one day since the weekend report, but Monday was a very active market. This report will be longer than the usual Monday report.
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Review SPX August 21st - This was last week, and we saw the SPX meet up with 2 resistance points.
SPX WEEKLY Aug 24th - So for the weekend report, I drew that same resistance here. It could climb along the upper magenta line, but would need to break the blue line first...
Read MoreFriday seemed like some sort of an anti-gravity day, with most sectors climbing nicely higher. We even had Swing Lows enter the dance floor, so let's take a look at our current market set ups...
RUSSELL 2000 - We looked at IWM and TNA earlier this week as buy signals, and we have follow through. Raise stops and see if they continue higher ...
Read MoreWelcome to the last trading day of the week...
USD- This is a copy/ paste from yesterdays report, expecting a USD DCL.
UUP ( USD) - It looks like the DCL may have formed. I mentioned yesterday
Now let's discuss Gold...
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I will have many trade ideas at the end of this report.
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TNA - I mentioned that The Russell 2000 ( RUT, IWM, and you can use the TNA) Looked bullish, and this was the break out. It was and is a buy.
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