Monday, August 1, 2011

DJ- 30 UPDATE

DJ- 30
  • Nice Bounce Off The Bear Fork Mid-line
  • Is It Just A Bounce?
  • Will Come Down To Jobs Number On Friday
    • Do Not Think It Will Be Great
    • Market Looking For 100k
    • Lucky If We Get Half That
  • Break Through Mid-line = 11,250 Could Happen Fast!

Just Follow The Forks

SP- 500
  • Forks Knew ISM Would Be Bad
  • Also Knew Debt Deal Would Not Be Done Last Week
  • SP-500 Still In Large Bear Fork
  • Break Above 1340 Would Start To Bullish
  • Should See Some Life At 1230
  • Break Below 1200 Would Suggest 1060 Could Be In The Cards
  • Could Still Have One Last Rally Later This Year, Fueled By QE3
GLD
  • GLD Still In A Bull Fork
  • Break Below 150 Would Start To Be Bearish