Stocks got hammered Friday after comments from Rosenberg, with the S&P and the Dow falling back to where they were just before the Brexit selloff. The Nasdaq and Russell fell a bit heavier, but are still 2-3% above the beginning of the Brexit selloff . Bonds, metals, and oil also got hit. Gold was down about .7% and oil was down 4%.
/ES sold off heavily, falling through vM 2143.75, and hitting vM 2115 at the end of the day. It is sitting at levels just before the Brexit selloff. See if can reverse off this 2115 level. If fails here, expecting 2073 area, if that fails, expecting to see a test of 2000.
The Russell has been taking the stairs up, but took the elevator down Friday. No real chart patterns setup except an ugly double top to 1192.92. Needs to hold that area.
NASDAQ needs to regain 50ma
DOW
$
Bonds got hit 1.47% and are close to hitting vM 179'16
Gold id just above its 10ma. See if can continue towards 1550
Copper didn't make much of a move Friday. Is still below its 200ma.
Oil is sitting at its 10ma, and just below the neckline for vM to 32.39
Needs to maintain its 10ma, and hold above $40, otherwise expecting 32.39 and probably lower.
XLF
IBB has vM to 276.85
Needs to retake its ma's, which are all converging.
