Tuesday – September 26

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Let's take a look at Mondays action, and basically things are still playing out as expected in the past couple of weeks reports.

 

NASDAQ - From the weekend report, I started seeing weakness in the Nasdaqs internals, so I mentioned this in the weekend report with this chart...

"I have to wonder if the NASDAQ upside is limited here too. I would use a tight trailing stop now, if I was long."

 

NASDAQ - The Nasdaq dropped 83 points at one point on Monday.

HMMM-  Read the chart

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Weekend End – Sept 24

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Last week was the week of the September F.O.M.C. Meeting. Let's review how the week played out and ended.

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SPX - We find the SPX on day 23 and that is within the timing that it could start to seek out a daily cycle low.  I am pointing out in this chart that recently when the daily cycle has been in the 20's plus count, it has merely gone sideways, so upside may be limited here.

I did notice a few other interesting things with the General Markets however.

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Friday – Setting Up

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When I was a kid and my mother was making Jello or a Chocolate Pudding or Cake, she would tell me that I should not be impatient. I needed to wait until it was finished 'setting up'. That is where we are in the Precious Metals sector, and also some Energy stocks,  so let's take a look  at the markets and then that area in particular...

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