The slow, grinding, and mixed equity markets move to up side continues, with the Dow up 7 while the SPX is down 2. Transports are down as are the financials, while the Q's are unchanged. Oil is again above $90 at $90.56 and our energy recommendation, USO is trading at 38.66, up from our Buy point at 35.25.
Gold is down 12 bucks at $1.375, the Euro is again under 1.31 at 1.306, making our Sell signal at 132.42 look good. The Dollar is down a couple of ticks, with the recommended trade in the UUP up $.17.
The bond market is down a few ticks, and while Momentum in the TLT is still positive, the recommended trade is off $.80.
Momentum is still Bullish for the SPX with our SPY trade, recommended Buy at 120.5 is trading at 125.61
One of our favorite Trend indicators, the McClellan Summation Index, is still moving to the upside, likely buying us time before the next Momentum Change.
Best to your Trading!
Bill
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