Internet Outage This Morning…………2:00 Update added
In a way this was a good day for the system in our area to go down, I really don’t have anything to add to what has been said recently. The 908 – 910 area on the S&P 500 is somewhat of a support area for this stage and rallys towards the 926 area are always possible. Likewise T-Bonds and the Dollar have rallied to areas of resistance for the moment.
The significant action in the markets will be when the 118-10 area in Sept T-bond futures, and the 82.40 area in the Sept Dollar Index are taken out on the high side. Likewise it will be significant when the 870 area in the S&P and 915 area in Gold are taken out on the low side.
The EMA ETF Fund Nav was 1165 at yesterdays close.
12:16 PM CDT
Lightening up short positions a bit for the moment in EMA ETF Fund, cut back to about 40 percent short, sold SDS and TWM position.