ARMS Data today was a LOW .29A/D was 6/1
Vol was 21/1
the last 2 days, MY PROPRIETARY AD & Vol data indeces were both UNDER 300
indicating an OVERSOLD condition- but with TODAY'S data applied to the SPREAD sheet
that is NOT the case anymore, at least for the very short term.
ALSO, they FILLED the GAP from 1058 to 1072 AT SPX 1060.27
Power data GRAPH did SHOW either 6th or 7th with POTENTIAL for big UP day
with MIXED trends tomrrow ending lower, and more selling on Friday
SPX at 1060, we could EASILY see a retest of 1010 before
RUNNING IT BACK UP NEXT WEEK to 1100
Friday has converging CYCLE pivot lows including
a Bradley date & an Eclipse on Sunday = ENERGY change next week
Friday' read = controversy & antagonism
Saturday read = erratic
Helge shows a LOW on 12th, but thats because he dates his charts by Mondays
so his low could easily be Friday
Jay
6 comments:
S&P end of day analysis
http://niftychartsandpatterns.blogspot.com/2010/07/s-500-analysis-after-closing-bell_08.html
They are making a run for the top of the channel on the /es S&P Futures we
should hit it before lunch and then reverse back and make a run for the bottom of the channel which is 1005 ish or maybe 950 hard to tell....today should be a wild day
up big then down big and tomorrow will be down big but monday will be HUGE
rally....
a gap fill then the 1150 area i have a time and price for around 3 pm today
http://stockcharts.com/c-sc/sc?s=$SPX&p=15&yr=0&mn=0&dy=8&i=p51864654983&a=182063541&r=9730
rrman, what is your s&p cash target high this am?
don't chart the cash but 1070 on futures but we didnt make it ....i think we topped for the day now down
RRMAN
I agree with your outlook
Jay
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