Market Update

The sp has lost the upward bias over the last day or so and I believe has entered into a range. I think it can be sold above 839 wth an objective to the low teens and possible back below 800.

The dollar index has been sideways for several days and is still a coin toss for the breakout. Play the range until its not a range. Sell 8680 and buy 8475.

Crude also has found a tight range around current levels. I think its a sale above 52.25 and a buy below 50.25.

Gold still looks mildly bearish. From a week to week perspective I don't think its a good short down here and is probably a good buy if we get to 850, but the daily charts just haven't shown any bullish signals for some time. From that shorter term perspective, its a sale still from the mid 890's.

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