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Wednesday, March 1, 2017

Market update 3/1/17

Money being put to work on the 1st day of the month

Support holds

Trend intact

$VIX holds resistance - no fear 

Dow support at the purple line - seeing futures up 100 points.   

SPX - 5 minute chart - possible broadening pattern in a sub minuette wave "d".

$SPX - 60 min chart - support holds

$NDX trend intact. NASDAQ as well...

Financials - trend intact

$RUT - Russell 2000 breaks support

$RUT possibly leading the next bear market - still looks like an A-B-C snap-back rally

Oil remains weak and trapped in a range: 

$GOLD reverses at the 200 day ma. Miners also look weak. 

Support breaks? Sell with both hands 

Trend remains intact? Sell the Rips 


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