After today’s action I’ve now gotten buy signals in the SPC cash
Nasd 100 Futures, Russell,Nikkei,FTSE & DAX.
Nothing doing yet in the ASX or the Midcap 400.
These signals simply tell us it’s time to buy the hard breaks .
We should see a continuation of today’s rally for a few days.
I do not discount a retest of the green arrows (Monday’s lows) after some positive price action.
These signals suggest that we’re not going to see the deep correction that the Elliot Wavers are looking for.
Spu’s…buy the really hard breaks for the rest of the week.
Nasd 100…is now higher on the month above 4268. 4324.25 is the weekly close, above look for a retest of mvg avg resistance @ 4368.
Bund…(SEPT) 154.30 is today’s resistance. This needs sustained price recovery back over 153.35 to rally anywhere.
Gold…needs a close over 1145 to extend. 1125 remains support. I’m not looking for much until unemployment on Friday when Gold typically has moves that delineate extremes for the next month of trading.
General Comments or Valuable Insight
Transports IYT and Healthcare XLV & IBB were firm all day yesterday putting in positive chart patterns. The breaks should hold in these sectors.
Always worth the read. If you’re not on his e-mail list, you should be.
S&P 500 Cash
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