Market Update: July 2nd, 2013 – Questionable Rally

Equity markets followed my playbook higher yesterday when ES bounced from measured supported in the 1593 - 95 range as posted yesterday. The structure of this "rally" remains unconvincing to me. As per last week, the overnight markets are driving the US equity markets higher while the large players (day session) are unable to hold […]

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Weekend Update: July 1st, 2013 – Conflicting Signals

Equity markets did enough last week to keep both Bulls & Bears hopes alive. The SPX staged a nice three day counter-trend rally from the 1560 lows only to be turned back by the 50 day sma and 0.618 fibonacci retracement of the prior decline at 1620. This is exactly where one would expect a […]

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