When Will The Bitcoin Permabulls Care About The Huge Intraday Swings?

SPX-cash (Long term view)

Our LT overshoot level @ 3081 remains our upside target. The sharply rising 20 DMA @ 2974.43 and the 5/1 high @ 2954.13 are below.

A close back below the 5/1 high @ 2954.13 would be bearish. The 50 DMA @ 2901.97 is far below

Long term overbought condition has been unwinding

S&P futures: (Short term view). Watch the key levels mentioned below for next short term move. On 7/15 our short term overshoot level @ 3023.50 was tested.

Last week it tested the 20 DMA @ 2977.50 and held. Our short term bounce zone @ 2969-2956 is below our projected levels above are 3057.75 and 3085.50. Long term overbought condition has been unwinding.

IWM

Can be long some as trading above the 50 DMA @ 152.84 with our bounce zone @ 151.68-150.18 below. The .764 level @ 157.38, the 7/1 high @ 158.03 and then the 5/6 high @ 161.11 are all above. No long term signal here.

CRUDE

Traded inside our selling zone @ 58.60-60.49 this month and failed to CLOSE above so far. Our bounce zone @ 55.77-54.55 was tested last week as the  54.55 level held. A close below 54.55 to make sales.

The 50 DMA @ 57.21, 200 DMA @ 57.72 and the 20 DMA 57.94 are ALL above. A close above the 20 DMA to add to longs. No LT signal here.

XLF

The rising 20 DMA @ 27.83 with our first ST support level @ 27.77. Holding remains bullish, a close below 27.77 to make some sales. The 7/15 high @ 28.35 is above the 50 DMA @ 27.31, and our Bounce zone @ 27.14-26.84 are below. No long term signal here.

QQQ 

The 7/15 high @ 194.19 is above. The 20 DMA @ 190.41 and holding remains bullish. A close below first support @ 188.30 to make sales. No long term signal here.

10 year note yields 

Yield are riding the 20 DMA @ 2.045 after ticking @ 1.951 on 7/2/19. The falling 50 DMA @ 2.140 with our ST selling zone @ 2.273-2.349 above. No new LT signal at this time.

IBB 

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