Charts I’m Watching: Jul 7, 2016

Yesterday, SPX reached our initial target and came up just short of our secondary before a convenient API report sent CL spiking higher. 2016-07-07 CL 5 0339 The algorithms were in fine form, dragging SPX higher as well. 2016-07-07 SPX 5 0331From yesterday’s post:

Look for SPX to try to contain this morning’s losses to the channel bottom.  I expect new lows, with the SMA50 at 2076.59 and the SMA10 at 2072.28 as the next mostly likely targets.

USDJPY continued its streak of intraday ramp jobs.  And, again, it settled lower after the stock “market” closed.2016-07-07 USDJPY 5 0342continued for members


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