Thursday update
SHORT TERM: higher open and new highs, DOW +114
Overnight the Asian markets lost 0.1%. Europe opened lower but gained 0.3%. US index futures were slightly higher overnight. At 8:30 weekly jobless claims were reported lower, and the trade deficit was lower. The market opened three points above yesterday’s SPX 2538 high, and continued to rally. At 10am factory orders were reported higher. The rally continued until 3pm when the SPX hit 2553. Then a slight pullback ended the day at 2552.
For the day the SPX/DOW gained 0.55%, and the NDX/NAZ gained 0.90%. Bonds lost 6 ticks, Crude gained 75 cents, Gold slid $6, and the USD was higher. Medium term support remains at the 2525 and 2479 pivots, with resistance at the 2575 pivot. Tomorrow: monthly payrolls (est. 75K) at 8:30, wholesale inventories at 10am, then consumer credit at 3pm.
The market opened at its all-time high today, and then continued to move higher throughout the day. The advance from last Monday’s SPX 2488 low has now exceeded the largest advance since the mid-August SPX 2417 low. Quite a rally. The short term count from that SPX 2417 low continues to extend: 1. 2455, 2. 2428, 3. 2480-2447-2509-2488-2553. Still waiting for an end to this third wave, then a fourth and fifth wave to complete this lengthy Micro wave 3. Short term momentum has remained nearly extremely overbought all week. Daily momentum is also at extreme levels. Relentless advance. Best to your trading!
MEDIUM TERM: uptrend
LONG TERM: uptrend
CHARTS: https://stockcharts.com/public/1269446/tenpp
Filed under: Updates
Source: https://caldaro.wordpress.com/2017/10/05/thursday-update-600/
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).