Turnaround Tuesday indeed….DAX set the tone with trend day up off its OP…SPs gapped up and trended higher when first 30 minute range was broken. The DOW, as well as individual big gap blue chips, are on Grail Buys. For now, SPs made it back to the middle of the broad trading range. Full retest up next? 2 per ROC just flipped back up – expect upside follow through but cant initiate new longs unless small reaction down . Summation Tick is back to neutral from oversold readings and still can move back up higher.
Charts below: X (steel) uptrending channel, buy on daily OSC, Gold – A BC up, downside pocket support at 1230. Dollar index: Middle of range overall but osc can turn back up. Bonds: Shorting opportunity after short squeeze in an overall downtrending channel.