Friday August 10

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Thursday August 9

We saw some interesting moves in the markets on Wednesday, so let's take a look...

 

SPX - We see a reversal, but I do not expect a major run higher.

NASDAQ #1- I read head;lines saying " Even the threats of North Korea cannot hold down this bull market".

However...

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Aug 9th – Not A Whole Lot Of Change Here

There was not a lot of change to report today, but there were some 'significant' changes that took place, so let's take a look at what has changed...

 

SPX - This weekend I mentioned that the SPX could go a little higher, but unless it breaks out strongly and runs, it looks to be at the top of a rising wedge.

SPX - Timing wise we are near the timing that we can expect a drop into a dcl, and Tuesday we saw a false or weak break out that turned into a reversal. In June, this happened and we slowly rolled over and dropped to the 50sma area.

What about the NASDAQ? ...

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