S&Ps need close above 2102.25
The s&ps needs a close above the 2102.25 on the daily charts in order for them to line up with the spy on the daily charts. My algorithm is positive on the spy daily chart and negative on the s@p future. Earnings tonight on INTC and CSX not enough to push the s@p’s thru however even if we get that push up I still think the markets are on borrowed time. I am still looking for the gaps below to be filled. So as of right now it is a wait and see approach.
Gold traded down to 1183 today making a higher low on the daily charts and then closed at 1192.i think gold can retest the highs of 1124 to 1230 area. I lie to see if NUGT can close above 12.57 on the daily charts. If that happens I would get a buy signal on the daily chart on NUGT.
Oil made a higher low when oil traded at 50.08 again I think oil is on borrowed time and Gould have a ton of overhead resistance between 54-60 area. I do think oil will push down and retest the lows for the year and maybe even make new lows eventually.