We Continue To Look For New Highs

By Gary Berman of The Fibocall

Principal / Technical Analyst • Sep 9, 2019 at 8:30 AM EDT

Today, it is poised to OPEN above the .764 level @ 2979.40 with the 7/26 high @ 3027.98 and our overshoot level @ 3076.56 above. We continue to look for new highs.

We continue to look for new highs

SPX-cash (Long term view)
Today, it is poised to OPEN above the .764 level @ 2979.40 with the 7/26 high @ 3027.98 and our overshoot level @ 3076.56 above.
The 50 DMA @ 2946.50 and the 20 DMA @ 2905.48 are below
No LT signal here

S&P futures: (Short term view )
The recent swings have been QUITE sharp in both directions
The 50 DMA @ 2948.75 is below and holding the 50 DMA is bullish
The 7/26 high @ 3029.50 with our overshoot level @ 3089.50 above.
No LT signal here

IWM

The 200 DMA @ 150.76 and a close above to look for
our selling zone @ 151.74-153.51 and the 50 DMA @ 152.09 to be tested.
No long term signal here

CRUDE

Our selling zone @ 55.73-56.96 is being tested
with the 50 DMA @ 56.22, 200 DMA @ 56.08 and 20 DMA @ 55.52 below.
A CLOSE above 57 would be bullish

No long term signal here

XLF
Our Selling zone @ 27.31-27.65 with the 50 DMA @ 27.42 are being tested.
.764 level @ 28.06 and the 7/29 high @ 28.72 are above
20 DMA @ 26.67 and 200 DMA @ 26.48 are below
No long term signal here

QQQ

Testing the .764 level @ 191.69 with the 7/26 high @ 195.55 above
Holding the 50 DMA @ 189.03 is bullish
No long term signal here

10 year note yields

With the recent low @ 1.458 and now above the 20 DMA @ 1.552
Our first short term bounce level @ 1.619 with the falling 50 DMA @ 1.812 above.

LT oversold signal remains in place

IBB
The 5/31 low @ 99.84 is below and held
The 9/4 low @ 100.36 and closed UP on the day
IBB has struggled to clear the falling 20 DMA @ 103.61 and I would wait to buy/add until it does.
50 DMA @ 105.30 with our selling zone @ 105.82-107.03 and the 200 DMA @ 106.41
No LT signal at this time

FIBOCRYPTOCALL- Bitcoin
The 50 DMA @ 10632 with our short term selling zone @ 11467-12031 above
The PermaBulls have continued to say “BUY the BITCOIN WEAKNESS”
Will any of them EVER turn BEARISH?
A close below the 20 DMA @ 10309 and look for
the 7/29 low @ 9117 and the 7/17 low @ 9083 to be tested.
A CLOSE below these and look for our LT bounce zone @ 8500-7200 to be tested.
No new LT signal at this time

SPX-cash DAILY chart

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