The Morning Fibocall For July 9, 2019

SPX-Cash (Long term view)

Our short term overshoot level @ 3007.31 and our longer term overshoot level @ 3081 are still our LT 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 sell some.
A close below our first support @ 2932.82 to sell some more.
The sharply rising 20 DMA @ 2930.61 and 50 DMA @ 2886.70 are below

Long term overbought condition is unwinding

S&P futures: (Short term view )
Our short term overshoot level @ 3023.50 is above
We said “A CLOSE below our first short term support @ 2984.50 to make some sales”
The S&P futures DID CLOSE below yesterday
Our very short term bounce zone @ 2960.50-2949.50 is below and would buy inside the zone.

First LT support @ 2941.50 and the 20 DMA @ 2939.50 is lower.
Long term overbought condition is unwinding

IWM

Our first LT support @ 155.03 held yesterday.
Our very short term bounce zone @ 154.40-153.53 , the 20 DMA @ 153.60
and the 50 DMA @ 153.49 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
Running into resistance with the falling 50 DMA @ 58.13 , the 200 DMA @ 58.49
and our selling zone @ 58.60-60.49 is also above.
The 20 DMA @ 56.08  with our ST bounce zone @ 55.44-54.30 below
I would buy inside the zone if given the chance

No LT signal here  

XLF
Holding our first LT support level @ 27.58 is bullish
with the rising 20 DMA @ 27.42 and the 50 DMA @ 27.24 below.
The 7/5 high @ 28.26 and the 9/20/18 high @ 29.07 are above.
A close below first short term support @ 27.94 to make some sales.
Our ST bounce zone @ 27.58-27.41

No long term signal here

QQQ:   The 7/3 high @ 191.44 with our overshoot level @ 196.53 above
We said “A close below first short term support @ 189.83 to make some sales
The QQQ closed below 189.93 yesterday
Our short term bounce zone @ 188.05-187.24 and can look to buy some inside the zone
The 20 DMA @ 186.66  with our first LT support @ 186.21 and holding is LT bullish,
The 50 DMA @ 183.96 is below.
No new long term signal here

10 year note yields
Yields are now ABOVE the falling 20 DMA @ 2.043 after ticking !@ 1.951 on 7/2/19
We said “We need to see it CLOSE above the 20 DMA to look for higher yields.
Our first bounce level @ 2.103, 50 DMA @ 2.224 with our ST selling zone @ 2.273-2.349
No new LT signal at this time


IBB
Closed back inside our  LT selling zone @ 108.04-109.98 with the 7/3 high @ 110.93 above.
Closed below our first support @ 108.31 and the 200 DMA @ 107.93
The 20 DMA @ 106.99, the 50 DMA @ 105.30 and 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 and to reduce some long exposure.
Our ST bounce zone @ 10549-9893 was also tested last week and HELD.
A CLOSE back below 9800 to press sales
20 DMA @ 10482 and a close below to SELL MORE
The rising 50 DMA @ 8506 is below
 Long term overbought condition is unwinding

SPX-cash daily chart


 

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