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Mid-day technical Thoughts- WEBINAR starts in 10 min-

For those that cannot make webinar.. I am happy to forward a link for the replay.. and can do a quick 5 min Video which is shorter to watch

 

Technical Analysis Video Webinar, 15 mins.  Today 1pm EST- https://join.startmeeting.com/info69336

  Dial-In Number (United States): (701) 801-1211, Access Code: 840-955-999

 

 

 

 

 

Stocks not doing much just past Europe’s close.  Minor rally back in S&P while NASDAQ still down -0.50%.   DJIA should be mentioned for finally joining SPX and NDX in getting over June highs, a minor positive for this

Breadth is 3/2 positive while volume more flat.-    JUST IN THE LAST 24 hours.. we’ve seen a confluence of COUNTER-TREND SELLS on the S5INFT index-  TECHNOLOGY.  And TNX-  10yr yields..  and also XLF- Financials.. while both XLF and XLI are challenging their respective trends from January.  So a BIG area for the market heading into tomorrow.

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S&P HOURLY-    2833 important for traders.  Then 2813-4.   Under that leads to a test of 2789-92 area

Any move towards 2849 should be sold into today’s close.. 2852-5 impt on upside above 2849 for futures

 

 

 

 

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OIH showing some promising signs today after having been beaten down over the prior weeks

Like owning this for a bounce on the ability of this to hold above 25 by today’s close

 

 

 

 

S&P 500 INFO TECH index..  is getting counter-trend sells today-    My thinking is that TECH will turn down in the days ahead.

Its right to position out of Tech near-term..

 

 

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YIELDS-  10yr .. also showing evidence that a turn back lower can happen-    I like buying TREASUREIS today.   TY.. and betting on yields going lower

 

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Exiting AMZN LONGS by close-  consider Shorting- 

 

AMZN showing the SAME kind of negative momentum divergence and overbought conditions above long-term uptrend that FB did

I like taking profits in AMZN before earnings and for aggressive traders.. like shorting for a move down to  1647-8  while under that is definitely possible on extreme move and should watch 1567, 1413

 

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