Sunday, September 6, 2020

Week Ending 9/4/20: Labor Day Weekend. Lumber out of gas???

Markets fell Thursday and Friday after making new ATH, 
but had a pretty good bounce Friday mid-morning/afternoon.
See if indices can push back to all time highs, 
or break Fridays lows and push lower.



The S&P fell Thursday and Friday morning, forming vM's to 3272.75 and 3161.25
It formed a short term vW to 3572.75 on Friday.
See if can push back up to new highs and null vM's lower. 
If we break Fridays lows, expecting 3272.75 and 3161.25



The Russell was showing some strength earlier in 
the week with closes above recent daily closes, 
but fell on Friday as well.  It still has short term 
vW's in both directiions.  If breaks Fridays lows, 
expecting 1484.3 and 1409.7



Bonds still have large patterns both ways.



Gold has been trading a bit sideways,
but has patterns lower that formed.



Oil came within 6 cents of vW to 43.84
and has formed and triggered a vM to 37.37



Dollar looks like it wants 91.305



Lumber may have finally run out of rocket fuel.
See if continues towards vM 687.9



Banks didn't look too bad this week, 
considering Thursday and Fridays action in the indices.


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