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Wednesday had the release of the Fed Minutes in the afternoon, and that put a reversal into the Miners sell off. Thursday has the NATGAS inventory report and we also have the OPEC meeting that could Move OIL one way or the other. These things are not unexpected, so let's discuss some observations from the current charts.
SPX - I was expecting this run to roll over after the recent slam, but it will take some time to see how this plays out.
SPX - So far the General Markets continued higher.
This is something that is important to me in the bigger picture...
Read MoreLet's do a little review and discuss a little about a drop that I am expecting.
SPX - There are times when you are expecting a pullback and suddenly you get a large 1 or 2 day slam. That can exhaust the move down, or 'clean the plate' of sellers for a while , so price starts to rise again. I was looking for bounce & an overhead gap fill, but we are also due for a dcl. So will the drop resume or was that it? It could have been a dcl. Let's look at prior moves out of such a slam...
Read MorePlease reread the weekend report for my thoughts on the markets. Mondays moves still fit the thinking that we have gone over for the past couple of weeks. In addition to the weekend report that I released, I gathered some charts of trade set ups or trade ideas that may be forming. At times we see patterns forming within patterns, like the picture above, and I want to share those charts here...
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