Good Morning Traders!
The first week in September had very strong $ inflows in European markets as the Dax responded to the
ECB meeting low rates. After three days low to high and it can use a consolidation day. On Friday the Russell rebounded from the previous two days of selling. After one day up, will it have ffollow through this week to push above 1180 again? The 240 minute chart posted above suggests yes for now. The summation Tick chart hit oversold readings. But since the Rus closed 14 points UP off its lows, it need early consolidation Monday morning as well.
Put Call ratios have been coming down since the Buy Signal given two weeks ago, but as you can see – are not anywhere near a Sell Signal.
Grain all have Pinball SELL setups.
There are no compelling Daily /Weekly chart formations on other markets after last weeks volatility other than Silver which has daily Buy Divergences.
Range in the SPs has been expanding so look forward to good trading there this week.
Have a great day! Linda