More waffling between support and resistance in the bull flag for the S&P 500 (C-fund). The 50-day EMA has held as resistance for 8 days now - including today, and the 20-day EMA has been support that whole time. Something has to give.
The DWCPF (S-fund) is in that large bearish looking flag (red) but the green bull flag is starting to look more like an F-flag, which can move higher for a while, but they tend to breakdown. I'm liking this less today than I did a few days ago.
The I-fund is moving counter to the dollar so we probably need to see the dollar rollover action for the I fund to get traction.
I don't like the look's of the Transports this morning. Failing at resistance, and the resistance is thick. Down 2.5% today.
Bookmarks