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What are we watching on Friday?
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SPX - Yesterday, using this chart, I pointed out that this confirms the daily cycle low, and it is a bullish break.
This could be considered an Island Bottom reversal. It is a bullish break out, especially if that gap doesn't fill.
Read MoreMy High School Sociology Teacher used to start his class by saying, " O.K. friends, no fooling around here. I have a lot to cover today, so let's just get right into it." I miss that, and I have a lot to cover too, so lets just get right into it! 🙂
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SPX - I discussed that the NASDAQ, IWM, SOX, XBI / IBB, and so on had already made the break higher, as the SPX lingered. The Fed Decision gave it a good push and we have a confirmed DCL and we're on day 7. It is still oversold , and I would expect a break out to new highs sooner or later.
Read MoreLets discuss Fed Wednesday
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