Friday, August 7, 2009

US equities and market comments for 8/7

Looks like Mike's comments on his ChartsEdge map for today were in the "what if" category as futures rose with the jobs report. We should give the intraday cycles shown by the map the benefit of the doubt, checking as usual by mud-morning to see how well it's working. If you aren't already familiar with them, check the info at ChartsEdge or my NB3 site (links at right).

Maybe today we get a read whether the SPX wants 1012/1014, and if the dollar can revive. And related questions, like whether there are valid triangles in gold and oil, and which direction the yen chooses. Just as likely us that some but not all of this will get answered by today's close. So as always, be careful out there, and happy market navigating!

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