Bottom Line:

All four primary US trading indices remain between pivots of at least two degrees of time. The next 5% move is a total guess. That isn’t what people want to hear, but it is the current reality.

From last weekend’s update:

The SPX third quarter Auction is quite narrow and range extension would not be a surprise.

No change. The chart is updated through Friday’s close.

RUT Weekly

NDX Weekly

SPX Weekly

Dow Weekly


No change:

NYSE internal data has alleviated its mildly “oversold” condition. Beyond that, there is no big “tell” at the moment.

US 10-yr Notes

The recent low at 109’095 is critical.

US Dollar

No change: 

Very well defined upper and lower level at the moment.


Gold is between critical intermediate to long-term levels.


Favor longs.