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If you've heard of 3D Printers, raise your hand. Not a whole lot changed in the markets Tuesday, so after a quick review, this is one area that we'll discuss today...
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SPX - No Change in my outlook from the past few reports. I expect that this daily cycle is topping.
Read MoreThe weekend report discussed Turning Points. Though I have laid out my big picture expectations, I also mentioned that at turning points it is important to continue to examine clues from an unbiased view point. Sometimes subtle changes at turning points can either alter the bigger picture or confirm it. I discussed a few changes developing in my weekend report, so lets continue to examine any clues that may appear.
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SPX - Our run higher still resembles the run higher last fall in many ways. I am expecting a dip down into a DCL soon, but the move out of that daily cycle low is going to be important to watch. It is not time to short this market yet. As the market rises , I see a bearish wedge and lighter volume. We wait for the dip.
Usually at tops (even temporary tops) , the VIX gets down near $12 -$13. Spikes higher in the vix can lead to bottoms, and a spike lower can signal a top. The vix is low enough, but a spike lower would probably signal a temporary top.
Read MoreIt doesn't matter whether markets are rising or falling, sooner or later, they hit a turning point. We have a lot to discuss this weekend regarding those turning points, so lets dig right in...
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SPX - Whether we started a bear market or not, I still expected a strong rally when we were at recent lows. It would draw in bulls, but what comes next after 6 weeks higher?
This rally has played out pretty much as expected, but I want to point out some interesting changes in character that could affect future trades / trading.
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