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

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