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This 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.
Read MoreThe Tuesday report was discussing the recent volatility. Sideways chop is frustrating and newer positions are hard to hold, until you get a nice directional move. We are currently seeing strong volatility now. Lets take a look...
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SPX - The lows from Monday were not taken out, so that still could be a dcl, we just do not have confirmation.
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