weekly update

Market paused near 1440 as expected. ES touched exactly Fib23.6. 

Level to watch for the correction are 1400 area, and then 1380. 

T2103 bear cycle is close to bottom. 

Longer term, COT shows some +div for bull.

weekly update

Retraced as expected but shallow. Spx posed for " new" higher  to 1440 area (if broke 1424 the last high and Fib61.2), before a pause

Retreat before going higher

ES traded to the tick of Fib61.8, Spx not yet. Market expected to retreat at least to the low wedge TL if not an AHWB.

It may break up first (dont think it can go far though), before a sizable retracement.

Market approach key level

ES approach Fib61.8 level. Cot shows - div. CPC turned up. T2103 topping!

ES,SPX

 Hit major Fib61.8, expect to bounce back to 1404 area

ES,SPX

indices and indicator

Broken Indices

 SPX: TL,MA200 broken, sits on Fib50%

 DOW: MA200, Major TL, Fib50% all broken

 NAZ: Fib62% broken

 RUT: Fib50%, major TL broken

 NYSE: strongest among all indices, sits on MA200,Fib38%

ALL broken, but MACD no + div yet

where we are after bloody post election day

index

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