SP500 futs intra day chart now gives bearish warning so maybe yesterdays rally is ending. The sideways chop and short covering spikes is caused by recurring buy support conflicting with significant sell pressure. As mentioned, the big picture remains bearish and this will ALWAYS exert the most influence. The only thing GUARANTEED is that the bearish medium / long term cycle will have the upper hand.
SP500 intra day trend reverts to bear mode. Back to the medium / long term outlook: Euro bearish and USD bullish. The OVERDUE dollar rally could be substantial.
ISM # due out in 20 mins a reading above 50 today and the markets rally 1%+ without question! Very important number today!
As mentioned, the big picture remains bearish and this will ALWAYS exert the most influence. The only thing GUARANTEED is that the bearish medium/long term cycle will have the upper hand. EURCAD downtrend on daily chart strengthens. http://stockmarket618.wordpress.com
I would like to disagree. We had lots of good news recently (car sales, retail sales.... and the job report was almost expected specially for August that we had lots of uncertainty. Outlook is not that bad and actually we might see a rally today.
Medium and long term outlook continues: Euro bearish and USD bullish. The very overdue dollar rally should be substantial.
EURAUD protracted basing now reverts to bullish. AUDUSD and AUDJPY 8 hour chart rising wedge continues so bearish for stocks.