SPX-cash (Long term view)
Our short term overshoot level @ 3007.31 and our longer term overshoot level @ 3081 remain our upside targets.
Some backing and filling will come along the way, so know our key levels.
A close back below the 5/1 high @ 2954.13 to turn bearish
The sharply rising 20 DMA @ 2940.62
A close below our first support @ 2938.28 to sell some more.
The 50 DMA @ 2888.50 is far below
Long term overbought condition is unwinding
S&P futures: (Short term view )
The 7/10 high @ 3007.50 with our short term overshoot level @ 3023.50 above.
Our first very ST support @ 2985.50 and a close below to make some short term sales.
Our very short term bounce zone @ 2961.25-2950 , with the 20 DMA @ 2951.50 is inside the zone.
Our first long term support @ 2942.50 and holding remains LT bullish
A CLOSE below to make sales.
Long term overbought condition is unwinding
IWM
Our very short term bounce zone @ 154.40-153.53 is below
The 20 DMA @ 153.99 and the 50 DMA @ 153.36 are below
I would be a buyer inside the zone.
A CLOSE below the 50 DMA as ashort term exit.
No long term signal here
CRUDE
Trading above our selling zone @ 58.60-60.49 NOW.
A close above 60.49 is quite bullish.
LT .764 level @ 62.82
First LT support @ 58.50, 200 DMA @ 58.38 and 50 DMA @ 58 all below
No LT signal here
XLF
Holding our first ST support level @ 27.94 remains bullish
A close below 27.94 to make some sales.
Our ST bounce zone @ 27.58-27.41 is below with the 20 DMA @ 27.49
No long term signal here
QQQ: A NEW HIGH with our overshoot level @ 196.53 are above
A close back below the 5/1 high @ 191.32 to make some sales.
The sharply rising 20 DMA @ 187.50 with our first LT support @ 187.47 and holding remains LT bullish.
No new long term signal here
10 year note yields
Yields are now ABOVE the falling 20 DMA @ 2.037 after ticking @ 1.951 on 7/2/19
Our first bounce level @ 2.103, 50 DMA @ 2.206 with our ST selling zone @ 2.273-2.349
No new LT signal at this time
IBB
Closed back above the 200 DMA @ 107.83 BUT also back inside our LT selling zone @ 108.04-109.98
with the 7/3 high @ 110.93 above with a close above 109.98
The 20 DMA @ 107.56 and a close below the 20 DMA to increase sales
The 50 DMA @ 105.36 inside our ST bounce zone @ 105.39-104.07
No new LT signal at this time
FIBOCRYPTOCALL
XBTUSD (Bitcoin)
A battle of the zones has been real as the “Bitcoin Permabulls” continue to shout 20K, 50K and much higher …..
Our LT selling zone @ 11323-13256 was tested and we look to reduce some long exposure.
Our ST bounce zone @ 10649-9893 was tested last week
20 DMA @ 10839 and a close below to SELL MORE
A CLOSE back below 9800 to press sales
The rising 50 DMA @ 8911 is below
Long term overbought condition is unwinding
SPX-cash daily chart
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