Nice to be back after a few days at the beach and on the bike fighting the ocean winds.

Markets were very strong on Friday as folks seemed to like the stress test - concluding - well maybe not that much stress as the SPX closed higher by 14.3 and the NAZ +42.

For the week upcoming - a few things- firstly- as usual markets are over bought and near lots of resistance at SPX 875 - RSI (2) levels on the major indexes:

SPX 84

NAZ 93

NDX 93

RUT 80

MID 86

IYR 85

IYF 77

MSH 95

XLE 88

VIX trading at/near the SMA 10- so no sell signals there- if that means anything;

My take- let the price action tell - and if we get up to 1,400 and break 875 on the SPX I will be selling- round number and down sloping EMA.

Some reading materials- the new Stocktwits star with a take a target of NDX 1400 - which seems reasonable and checking the chart above - a pullback to the EMA 20 - probably a good spot for under invested folks to load the boat.

Dr. Brett also seeing a running of the bulls;

Insiders- not so much;

Some economists- yeah - the worst is over;

Muni defaults en route- and probably an eventual big bailout?

Wait till this starts to get some legs;

TWEEPME if you want to pay for followers;


Anonymous Anonymous said...

How come when you say you will be back Monday you show up on Sunday?

Go Gators

10:37 PM  
Blogger DAVID said...


8:23 AM  

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