For previous Short-Term-Delta Blue Weeks in the S&P 500 see also HERE
During July each rally has led to higher highs before being sold off by about 50 points. Each of the lows has been accompanied by positive divergences. Short term momentum ended last week extremely overbought. Various indications point to a small pullback before the stock market moves higher. Such a pullback might last for only one day. The FOMC is coming up on Wednesday, August 1st. Normally a new month brings in new money producing higher prices in the later part of the week, August 1-3. However, on Monday the market is likely to dip and then be alert for whether Thursday, August 2 will be a high or low. A pullback may only retest the 1350's to 1360 (HERE).
The latest COT-signals are bullish for SPX and silver, but bearish for NDX and natural gas, while copper goes to cash after two weeks bearish, and the 30-year Treasury bond goes bearish (HERE).
During July each rally has led to higher highs before being sold off by about 50 points. Each of the lows has been accompanied by positive divergences. Short term momentum ended last week extremely overbought. Various indications point to a small pullback before the stock market moves higher. Such a pullback might last for only one day. The FOMC is coming up on Wednesday, August 1st. Normally a new month brings in new money producing higher prices in the later part of the week, August 1-3. However, on Monday the market is likely to dip and then be alert for whether Thursday, August 2 will be a high or low. A pullback may only retest the 1350's to 1360 (HERE).
The latest COT-signals are bullish for SPX and silver, but bearish for NDX and natural gas, while copper goes to cash after two weeks bearish, and the 30-year Treasury bond goes bearish (HERE).
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