Friday And The Weekend

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It is Friday,  the last trading day of the week.   Jobs numbers will be released,  along with the  Natgas Inventory numbers. I like to remind 'traders' and 'investors' that today is the last day to be positioned heading into the weekend. I am holding several trades through the weekend, but I have been over 50% cash for a while,  waiting for a solid buy set up to form in the Precious Metals sector.     Enjoy your weekend!

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SPX - Closing below the 50sma could be a shake out.  It was the last 3 times the SPX closed here. Either we sell down into the grips of a deeper ICL sell off, or look for a reversal and a close back above the 10sma  ( not just the 50).  Jobs numbers could affect the general markets.

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Thursday June 6 – Are We There Yet?

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NASDAQ - We did see a small reversal , but we are still under the 50sma. I just don't think that we are there yet, so I expect further downside.

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July 5th – Gradual Change

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With only 1/2 day trading on Monday, did anything really significantly change for todays report? Nothing has changed from my expectations, but we did see some decent moves, and they are worth discussing, so lets begin...

 

DJIA -  This was in the weekend report. An eventual drop to the 50sma or more.

The NASDAQ was what was really looking rather toppy. We have not seen the kind of deep selling that I would be expecting now  ( ICL).

 

SO I used this chart in the weekend report to point out 1 of 2  possible drops, and I pointed out what looked like possible 'distribution'  volume at the highs.

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