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As time moves forward, we begin to see the moves that we anticipated in various sectors, as they begin rising out of the recent lows. Let's get updated on our Big Picture expectations...
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SPX WEEKLY #1 - We see that price has moved to resistance, please read the chart.
Read MoreJust a reminder : Today is the last trading day of the week, and next week will be a holiday shortened trading week in the U.S., so let's see where the markets stand and enjoy our Friday of trading!
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Note: we'll see how 'earnings' affect the markets going forward, but NVDA released earnings after the bell, and got crushed, down over $33 or 16%. We will discuss that with the NASDAQ too.
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SPX - Wednesday we had a gap fill and a bounce into the close. We need a bigger sign of strength than that, so we'd see if Thursdays trading could show some strength...
SPX - Markets sold off to a new low on Thursday morning, and then put in a nice reversal. It overtook more than 1/2 of the prior days candle, so you could add to positions on a day like that, with a tight stop at the lows. Our inverse H&S remains in tact, let's see if this can power higher.
Read MoreLet's take a look at the Markets, and I will discuss the Theme Picture later in the report. Consider the last part of this report as important, and please read it carefully.
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DJIA - We have a gap fill. Now let's see if these markets can get moving to the upside. I have discussed my thoughts on the General Markets in recent reports.
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