Call 911 - The Bears Howl for the Fire Department

Fires Run in Cycles Too. This Cannot Last Forever. Be Alert and on your Toes!

2 Day, 10 min. - July 30 - Japanese Candlesticks can be more easily read and interpreted if viewed in 10 & 15 min. segments. Less than 10 min. creates a chart that is too busy and significant signals can easily be missed. Double bottoms are seen in the chart above and could have been used in decision making.
20 Day, 2 Hour - July 30 - Most technical analysts had called for a "Correction" based on the observation of a Head & Shoulders pattern. This proved to be a "Phantom." Instead of a correction, a "Consolidation" sideways pattern developed which in itself is Bullish. There has now been a breakout through overhead resistance which in theory become New Support. This support around 96-97 on the SPY will be tested before the market can move to higher ground (if it does).
6 Month, Daily - July 30 - Longer Term picture is important to keep in mind to maintain perspective. Trading with the Trend can be significantly more successful than trying to Swim against the Tide (sometimes undertow.)

Have We Got a Sleeper in the Works?

"The Trend is Up! Support is in Place. Sideways Consolidation Paves Way for Move Upward? Could Be!

July 29 - Treasury Spread in Tandem with S&P Index. The two seem to run together. The Trend of both is UP!
2 Day, 10 min. - July 29 - Candlesticks work best in the 10 or 15 minute time set-up. Yesterday the CCI and MACD worked in Tandem to support a trade (Gold Spots). Today there was a CCI signal unsupported by a rising MACD therefore no trade taken. It could have worked with some anxiety along the way.
20 Day, 2 Hour - July 29 - Bigger Trend is Bullish. Last 5 Days have been sideways. Old Resistance is now New Support @ 97. Consolidation setting up for another move to the upside is a very credible possibility.
6 Month, Daily - July 29 - Breakout with New Support setting up the market to move higher. The market condition is very Overbought and cries out for a correction but the Bulls just won't let go. Overbought markets can stay overbought and irrational for extended periods of time.