The SPY (S&P 500 / C-fund) was pushing toward new highs to start the day on Monday but that quickly reversed. No real technical damage was done and the trend remains up, but beware of those rising "F" flag formations, which tend to negotiate their way to the down side.
The DWCPF (S-fund) had a decent day holding up better than its larger sibling, but possibly failing at a descending resistance line.
The Nasdaq 100 took the largest hit, although nothing terrible percent-wise, but the technical breakdown may be the worst development as it failed to hold onto its early breakout and it closed at the lows of the day, back in the flag with momentum back on the bears' side.
The Dow Transportation Index is having a difficult time moving above that 9500 level having backed down three times now. Still, it consolidated well since the the first test and as long as oil is struggling, we could see sustained interest in the Transport stocks, assuming the stock market in general doesn't roll over.
The EFA (EAFE Index / I-fund) was up slightly but like U.S. stocks, it closed well off the highs. The consolidation off the early June high continues.
A little follow-up from yesterday's analysis of the Chinese Shanghai Index... The 200-day EMA was broken with authority to the upside yesterday so, so much for that technical roadblock holding it up here. It's just one day so this isn't a confirmed breakout, but it's the first step to a more bullish move.
The AGG (Bonds / F-fund) was up again making a new 2017 high and remaining in that rising trading channel, but you can also see that support and resistance are converging near the apex of a rising wedge formation.
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