Sunday, August 11, 2024

Week ending 8/9/24: Markets fell heavily on Japan interest rate cuts.

 /ES below its 200 ma on Japan worries. 
It fell through vM's 5296.5 and 5262.75.
Has formed vM to 4622.25 and if breaks Mondays lows, will be triggered.
Also formed short term vW's to 5581.5 and 5646.75



/RTY fell as well through vMs 2076.5 and 2029.1
Has formed vM to 1717.2 as well as vWs 2184.9 and 2240.5
vW 2363.7 is still currently triggered unless we make new lows.



Bonds also declined with the majors. 
vMs to 154'12 and 122'16 have formed.
Still has large patterns both ways.


Gold looks like it wants higher. 
vW to 2929.7 is triggered and bull flag to 2962 is still intact.



The XLF fell through all ma''s, but is back at the 10 ma


Bitcoin nulled shorter term vW's highs, but still has larger ones.
vM to 43,971 is triggered.




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