Good market advance for banking sector especially closes off another opex week

The upward movement the past two days was "off the charts" from the cycles perspectives, but Tony Caldaro tracked it as his intermediate wave "c" upward. For swings it didn't do much except rattle the cage today by setting higher highs in a few sectors and the SPX. Notably banking, for which I pointed out the triangle a few days ago - those who bought for that have already enjoyed the thrust up from that. So all's rosy? Well, actually, there are divergences, one recorded in the NDX:SPX ratio chart below. The Nasdaq is lagging. For that matter, while its McClellan Oscillator rose, its Summation Index lifted but in what might be a kIssback. Oil, gold, and other sectors weren't as strong. These divergences and cautionary flags don't say there can't be more advances. After all, the QQQQ back over $39.82 can be added to the positives. Just for now, I'm thinking that daytraders had a good week with the maps, levels and indicators; swings might or not depending whether they chose to play intra-week swings (and what sectors).

The dollar fell this week as gold rose - thanks Raymond Merriman for that heads up! But the dollar has not - yet - done a dive like UNG that violated support and ripped a new low. Of course this leaves the way open for another thoughtful set of analyses and review this weekend! So enjoy your evening and "see you later"!