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The weekend report will take more of a big picture view, but I really think that everyone here should take the time to skim through Fridays report again. It was more of a detailed idea of what is happening, specifically in Oil and Precious metals. Please go back and at least just skim through those charts when you finish this report.
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SPX - Recall what I said about the NASDAQ, RUT, SOX in the Friday report, and here we have the SPX after Fridays trading.
Read MoreThis is just a little Friday report to toss out some Reminders about what we will be looking for next week.
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NASDAQ - I have been mentioning that cycle timing indicates that we should have a daily cycle low. We don't have one in he SPX yet, but the NAZ may be leading the way. The SOX is very bullish, and the NYA, RUT, DJIA, etc have also put in a dcl.
Read MoreVolatile markets and choppy sideways action, which way will the markets break? As daily cycles begin to age and the FOMC meeting approaches, it may be best to listen to the words of the gambler - You've got to know when to hold 'em, know when to fold 'em, know when to walk away, and know when to run - Kenny Rogers . I am scaling back on trades going into the FOMC meeting next week and wait for the fat pitch, the ICL in Precious Metals.
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SPX - DCL? Bear Flag? FOMC? The general markets are due timing wise for a dcl, but I'm looking for a sign of strength.
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