Buy and Sell Signals, Market Analysis, Money Flow, True Strength

Michael Pitre Author is a PRO memberHas Had Over 50 Followers Rank: 20 Followers: 84 Votes: 119 Years Member: 10 Last Update: 30 July 2015, 17:33 Categories: Market Timing
Trend Analysis
Swing Trading

Thursday AM

Right now I would say the current rally off the lower trendline
is a small move in process. It does not look like the beginning
of a large trend. The weekly charts however have held the
tags of the longer term uptrend lines....see SPY
overall the uptrend is still intact. On a shorter term basis we
have been in an up and down trading range and that looks to

Today weekly Initial Claims (consensus 272,000) and
the advance reading of Q2 GDP (consensus 2.5%) will be
released at 8:30 ET.

Today's 2Q GDP update will weigh heavily on whether the Fed
hikes in September or if they will hold off.

The Fed on Wednesday kept rates on hold as expected, but implied
that they will look at incoming data including the job reports to guage
when they will raise. They are still hawkish and inclined to raise rates
if the data stays strong.

Nasdaq Composite +7.9% YTD
S&P 500 +2.4% YTD
Russell 2000 +2.0% YTD
Dow Jones Industrial Average -0.4% YTD

Wednesday Performance

Oil [2.5%] China [1.2%] US Mid Cap [1.2%] Emerging Markets [1%]
India [0.8%] US Large Cap [0.7%] US Dollar [0.6%] US Small Cap [0.3%]
Europe [0.2%] Gold [0.1%] Bonds [-0.1%] Euro [-0.7%]

Oil Services [2.7%], Transport [1.7%], Energy [1.4%], Housing [1.3%],
Industrials [1.2%], Consumer Discretionary [1%], Financials [1%],
Materials [0.7%], Technology [0.7%], Retail [0.6%], REITs [0.5%],
Semiconductors [0.4%], Consumer Staples [0.3%], Utilities [0.3%],
Healthcare [0.2%], Biotech [-1.4%]

Russia [3.2%], Brazil [2%], South Africa [1.5%], Canada [1.5%],
Latin America [1.4%], China [1.2%], Emerging Markets [1%], India [0.8%],
United Kingdom [0.8%], Korea [0.6%], Mexico [0.6%], Asia-Pacific [0.5%],
Taiwan [0.4%], Japan [0.4%], Developed Markets [0.4%], All World Ex-US [0.3%],
Australia [0.3%], Europe [0.2%], France [0.1%], Germany [-0.1%]

Steel [2.9%], Solar [2.8%], US Oil [2.5%], Gold Mining [2.1%], Natural Gas [1.7%],
Gasoline [1.2%], Coal [0.9%], Silver [0.9%], Shipping [0.8%]


000.0 Nasdaq Daily Chart Risk Assets...Key Indexes

A Daily Chart of the major risk on indexes.

000.00 iShares MSCI USA Minimum Volatility Index Fund (USMV)

000.1 Apple, Inc. (AAPL)

000.1 Nasdaq Daily Chart

New Lows are well contained now and below the horizontal line.

000.1 S&P 500 Large Cap Index ($SPX)

000.1 SPY Daily Chart

000.1S&P 500 SPDRs (SPY) short term daily

This chart of SPY is set for a shorter term perspecitive....indicators are set at lower paramerter....faster settings.

000.2 QQQ Daily Chart

000.2 S&P 500 Large Cap Index ($SPX) 2 Hour

000.3 QQQ 2 Hour Trading Chart

For short term trading

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