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FOMC 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.
Read MorePatience in the markets can be rewarding and it might come in various forms. Patience is often needed to wait for a pull back to turn into a buying opportunity or a trade set up. It also might come when we are holding positions and we are waiting for price to show follow through. This weekends report showed mixed signals in various sectors and Monday started clarifying a few things, but a little more time might be needed to truly see what is unfolding. lets review...
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SPX -The general markets showed some upside potential, regaining the 50sma. It looked like the DCL came 7 days ago, so now we need to see some follow through to new highs to avoid having this become left translated and a repeat of last fall.
Read MoreWhile looking at a variety of charts for the weekend report, I started to see things give us some mixed signals about he health of various sectors. With that in mind I wanted to do something just a little different for this report.
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