RUT still heading down…
Courtesy of Mr. Caldaro which supports my bear thoughts…
“The market opened 1-point higher today, dipped to SPX 2433, rallied to 2442, then ended the day at 2435. The third consecutive 10-point range, non-eventful day. We are, however, observing some potential negatives for this uptrend. If the SPX had a failed Minute iv flat at 2419, that one wave rally to 2454 could have been it for the uptrend. Adding to that possible scenario is the constant negative weekly RSI/MACD divergences, and the recent negative daily RSI/MACD divergences at that high. The NAZ has rallied in three large-scale quantified waves off of its recent 6108 low. Something it has not done during the entire Nov-Jun uptrend. This suggests the recent rally is corrective. And, the NAZ still displays negative RSI daily/weekly divergences off the recent 6342 high. Looks like it is time to again get a bit cautious short/medium term. Short term support is at the 2428 and 2411 pivots, with resistance at the 2444 and 2456 pivots. Short term momentum reached oversold at the close. Best to your trading!”
XAU Weekly…
Sneaky little devil at the 85 EMA…