August 1st – Fed Day – Fed Up

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SPX -  I am still expecting the General Markets to begin rolling over.

 

Even with great earnings beats that GOOG and AMZN had, the NASDAQ fell for a couple of days.  AAPL beat too, but I still think that the markets are going to have a hard time resisting a drop from here.

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Tuesday July 31st – The Triggerfish

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In anticipation of a change in the way a market sector is moving, we sometimes start looking for a possible catalyst or a trigger that will cause that change in direction.

 

NASDAQ - The NASDAQ  was strong and moved to new highs.  Everyone was really bullish, but I was expecting a drop.  The Trigger seems to have been 'earnings'.  We saw FB, NFLX, TWTR among others disappoint, and even though AMZN and GOOG blew away their forecast estimate, it was not enough to prevent the drop that we are now seeing.  Friday and Monday took back 3 weeks of gains. We could get a 1/2 cycle low bounce here, but we may not.

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WEEKEND JULY 28 – Please Hold

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SPX WEEKLY - I have been discussing the timing on a daily chart, and feel that we are due to drop soon, into a dcl. This may be the short term top.

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