This is the update to the last weekly analysis.
SPX daily:
Same chart, same outlook. I expect the SPX go down a bit to 1070+ and then rise to ~1200.
SPX 60-min:
One more up and down, and then the rally will start soon.
XLF daily:
Last week, I said the turning point of SPX/XLF would be this Friday. It seems it will be postponed to the beginning of the next week.
XLF 60-min:
Basic strategy: buy UYG on the dip, and short SKF if it goes too high. At the moment, there is no significant difference between SKF and ^SKF-IV.
QQQQ daily:
The target was reached today. I expect a rally very soon, which could be earlier than SPX.
QQQQ 60-min:
The target is downgraded to 41.5--42.
$RUT daily:
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No chart for SSCC/TAN/POT/EWZ. STP looks bullish.
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Overview of mid-term indicators and major indices:
The risk is not at the historical level but it is very high. It is unimaginable if it goes up any further up.
$INDU is relatively strong. $RUT is very weak. Transportation hit a new low again. Commodities sold off. US dollar is very strong.
Financial sector is the strongest. XLP (Consumer Staples) is also very strong.
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Retail-Apparel looked good in the last week, now it doesn't.
Banks-Money Center is bullish:
Banks-Regional is bullish:
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SPX descending channel:
XLF ascending channel:
QQQQ channels:
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