Tonight we will go over a few markets but not in detail.
1) SPY + ES--The spy had a reversal bar on the highest volume in more than 1 month, after hitting support. This raises a question about the continuation of the trend. We came down on heavy volume, volume dried up at the bottom and we rose on even heavier volume. This looks like a classic reversal bar. It dos not mean we will start up but that the down trend has ended at least temporarily.
2) XLF--XLF closed solidly in the middle of its range. I believe if a significant rally were to begin here, this would be the first time since this bear market began that financials did not lead.
3) DX-- The Dollar index today in an upthrust position closed in the middle of it range. Ranges contracted in comparison to the initial upthrust. The euro and the Swiss franc have backed up to resistance, now support, and with the strength in the es rallied up.
4) GDX -- To be discussed in more detail this long weekend
5) GOLD-- Also moved up while in a spring position and will be discussed further this weekend.
