What’s New? July 25th

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We have an FOMC Meeting this Wednesday, and the weekend report covered a lot of the general markets and various sectors expectations.  With that in mind, we will review a few of the things that took place on Monday, and then I will point out a few more stock picks...

 

WTIC JULY 21 - From the weekend report I pointed out that Wednesday with the inventory report, Oil broke over the 50sma.  This was bullish, an then it plunged 2 days later back below the 50sma.  I said that  I will be watching for this trend line to support the drop, for it to remain bullish.

 

WTIC JULY 24 - Well how about that! Let's see if Oil can get back over that 50sma.

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WEEKEND WRAP UP JULY 23

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SPX - This could be a swing high, but we also saw this type pf action 5 days ago, didn't we. Also we see that Friday ended as a reversal higher, so a confirmed swing high would need to drop below  2460, at this point.

 

SXP WEEKLY - The SPX Longer term chart is at an area that has been toppy in the past.  It can just keep climbing, or drop into an overdue ICL, so trailing stops should remain in place.

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FRIDAY JULY 21

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Today is Friday and this week has seen a lot of trades setting up and following through.  Let's take a look at some of the action...

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