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
Internals
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
Gold is between critical intermediate to long-term levels.
Crude
Favor longs.
