Friday April 13th – It’s Just A Date

Friday is the final trading day of the week, and usually I do not cover the entire market, just what may be important for Friday.  It is enough until we get to the long weekend report.

 

SPX - Yesterdays chart showed the day count of this daily cycle.  We had the low ( DCL) on Day 34, Thursday was day 7, so Friday is day 8, and it is early in this new daily cycle. The chart was bullishly improving internally, as you an see with  my indicators on this chart.

Let me show you how they look going into the final trading day of this week...

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One Of THOSE Days

Wednesday was another day where buying pushed price higher on many of the set ups that we have been discussing, but it was a very nice day for both Gold & Oil. Lets review the markets and discuss the days action...

   

SPY - The markets rallied but then sold off as the day went on. I posted this chart in our chat area simply to show that it was nothing to worry about.

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Wednesdays Floaters

It was strange, but yesterday it seemed like every sector had stocks that were climbing. Tech was green, Some Miners went green, Energy was very green, Uranium stocks are bullish, and so on.   Let's jut take a look at the markets and discuss this as we go ...

 

SPX -  Our day 34 low has held and we moved above the 10sma and the trend line. This looks to be day 6 of a new daily cycle. I'd expect a run to the 50sma, and then resistance might temporarily  stall it, similar to Feb.0

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