9/3/15

Every time I went to update this week my computer had internet problems.  While it was volatile, nothing really has changed until today.

/ES fell Sunday night creating a gap lower for Monday's open, which overlapped a previous gap from 8/27/15 open.  It fell further Tuesday , and has since recovered above the overlapping gaps.  It is also above its 10ma. 

Today the /ES rallied in the a.m. hitting a vW target price at 1971.75 and has so far rejected it, but is setting up patterns higher towards 2030, and these will null shorter terms vM's lower.  It has constructed patterns to new highs if can hold the low from the crash a couple weeks ago.   Bulls need the S&P to remain closing above 1900 to avoid testing crash levels.

/TF is above its 10ma.  Expecting it to test 1190 area as long as can hold 1120.

  Nasdaq above 10ma as well.  Needs to hold 4118.25

The Dow.

NYSE above 10 ma.

XLF testing its 10 ma but closed below it.

Nikkei is just below its 10ma and sitting in the middle of two overlapping gaps.

The IBB is below its 200ma with and sitting just above its 10ma.  It fell 2.20% while other indexes closed flat.  Need to see a rebound and positive ma construction, otherwise will be a bit concerning for overall market rebound.

The Dollar is above its 10ma and looking to test its 50ma.  Is still correlating with the stock market.

Eero below 200ma and testing its 50ma.  Daily MACD is above the zero line, but looks like its turning south.

Bonds sitting on 50ma with 10 and 50 ma converging.  Hourly MACD is below the zero line but looks positive.  Has vM target price of 155.27.    See how ma's and MACD act at this level.

Gold is below its 10 and 50 ma's.  Unless price can turn around here, expecting further selling towards 1067.4

Tough call on oil here.  Hourly MACD is above the zero line, Daily MACD looks bullish.  Could easily bounce higher here. Even if bounces to $60, long-term vM's toward $32 will still be valid.  Watching for gap at $56.8(which is right at the 200ma), or if breaks below to 38.69 and 36.25 levels.

Copper still pushing higher but very close to a target price at $2.42.