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Lets do a market review and then I'll discuss what will be in the weekend report.
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SPX - We've been looking at what looks like a H&S. EVERYONE is looking at it and the group think is seldom correct, so I have to wonder if it'll play out. The reversal could be a DCL and may be setting up for a rally back to 2100.
Read MoreWednesdays release of the Fed Minutes certainly caused a 'reaction' in the various sectors of the markets. It falls in place with the timing of certain cycles, so lets review the action and what it may mean moving forward.
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SPX - The General Markets sold off with the Fed minutes. They recovered into the close. This still looks like a H&S and has yet to recover the 50sma.
Something that I find very interesting happened on Wednesday, I'll discuss it later in the report.
Read MoreFOMC MINUTES RELEASED TODAY, that can affect the markets , since they seem to be at pivotal points. I have a lot to discuss for a Wednesday, so lets get right into the report...
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DJIA- I usually use the SPX, but they are similar right now. POssibly dropping to the 200sma, but 'time' is important here. It really needs to move higher sooner than later cycle -wise.
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