Saturday, July 6, 2024

Week Ending 7-5-24: Magnificent 7 continue to carry markets. SPXEW looking ugly.

/ES is above all ma's and just below vM 5656.
vW's 5700.5 and 6045 are triggered


SPX Equal wieght looks more like the Russell,
which looks ugly and looks like it wants to roll over.


Russell continues sideways but is falling below ma's.


Bonds trading sideways as well. 
Smaller patterns triggered both ways.


Gold rallied this week with macd curling up again. 
Looks like wants to test all time highs again.


Oil bounced after hitting vM 74.42
Has longer term patterns both ways.


The Dollar is testing its 200ma. 
MACD is curling down.


Bitcoin fell through vM's 30,046 and 55,978 but just missed vM 53,341.
It also nulled vW 87,152
If doesn't continue bounce from here, 
it will likely see 48,841 and 43,971

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