Equities and other markets sending mixed signals mid-week toward opex

The stock market put in a creditable followthrough consolidation day; although indicators look mixed overall, and this gives me enough pause to remember that the ChartsEdge weekly indicated a low on Thursday. Maybe not a lower low, but enough to springboard equities higher on Friday (and opex). Did you realize the dollar moved up today?! I'm still thinking it will eventually test yet higher - meaning that I'm also tilting toward equities weakening after Friday. Will see ... There's plenty of data and analysis to digest. Meanwhile, as the SPX and many tradable indices and assets are testing their 50-day moving averages, gold also mimicked equities after gold's massive push up in recent days. All these moves are probably implementing "max pain", as some analysts noted in reports we listed this weekend suggesting an up week testing toward SPX 1100.

Meanwhile US Treasuries slipped again - no surprise to our readers. I'm guessing it's fueling equities short term. Big question is whether TLT going down will help equities weaken also into early March for the cyclic lows we've been thinking about for awhile. The tone is definitely turning more bullish. But I'm going to remain cautious until we get past that early March time frame. So smoke 'em if you got 'em into opex (maybe we'll get a nice drop tomorrow to buy into Friday - sure hope so!). It's all shaping up for this weekend's analysis to be another must-read batch of new insights. Meantime, happy Chinese New Year of the Tiger, and happy market navigating!