This Market Without Technical’s Can Be Hazardous To Your Wealth

The MORNING FIBOCALL for 8/6/19

SPX-cash (Long term view)

Our LT bounce zone @ 2878.40-2843.09 was tested and closed inside.
Our first bounce level @ 2870.70 and we need to see a close above
to add to longs.

50 DMA @ 2928.01 which is inside our very ST selling zone @ 2925.05-2949.34

LT oversold signal has been triggered

S&P futures: (Short term view )

The 200 DMA @ 2800 was tested today and has since bounced
Currently above our first bounce level @ 2835.75 (Close above to buy/add)
Our very ST selling zone @ 2902.50-2932.75 with the 50 DMA @ 2932
LT oversold signal has been triggered

IWM
A gap lower yesterday that held the 5/31 low @ 145.32
Our first bounce level @ 149.28 and I need a close above to buy/add
200 DMA @ 151.17, 50 DMA @ 153.21
Our very ST selling zone @ 152.72-154.26
No long term signal here

CRUDE
Trading inside our bounce zone @ 55.77-54.55 and HELD.
A close below 54.55 to make sales.
A close above our first bounce level @ 55.32 to add to short term longs.
I like being long some
and a close above the 50 DMA @ 56.15 to buy more.
200 DMA @ 56.92, 20 DMA @ 56.99 with our very ST selling zone @ 57.26-58.13

No long term signal here

XLF

The 200 DMA @ 26.44 is below and held yesterday’s sell off
I need a close above first bounce level @ 27 to buy/add
50 DMA @ 27.53 with our very ST selling zone @ 27.59-27.87
20 DMA @ 28.07

No long term signal here

QQQ

Closed inside our bounce zone @ 182.41-179.30
I said “I like buying inside the zone”
A close above our first bounce level @ 183.06 to buy/add
50 DMA @ 186.71

Our very ST selling zone @ 187.37-189.31

LT oversold signal has been triggered

10 year note yields
1.709 was the low tick yesterday
The July 2016 low @ 1.454 is below
Our first bounce level @ 1.811 and I need a close above to look
for higher rates in the very short term move.
The 20 DMA @ 2.016 with the falling 50 DMA @ 2.055
LT oversold signal has been triggered

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