A LOW TODAY between noon@1808bars & maybe 2pm@204bars looks like it sets the stage for an end run into 1380-90's
DONT KNOW what might TRIGGER a sell off today- FUTURES are 8am are +6.40 making the open a shot at near 1380
HOWEVER, JOB claims and New home sales might offer the catalyst to that pivot low today.
JOBLESS Claims totally ignored by 9am Futures- still showing a moderately higher open
MY ORIGINAL E graph also shows the 25th as ultimate top-
should make a new high over 1422 next week--
ON THE EKG's, NOT SURE yet- if the RALLY WILL HOLD ALL DAY 2mrw-FRIDAY.
NOTE the DYN & IMPACT both seem to show that it MIGHT BACK OFF later in the day- as ALSO indicated by the Psych read which calls for a DELIGHTFUL AM, but Disappointment in the after noon.
Reading for Monday indicates an early day malaise -but better later
I'll also send shortly the PD which shows action into Tuesday.
THE BEST SHORTING opp looks like it will be AFTER the 25th to a LOW on AUG3rd
Stay tuned for further updates
Jay
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