Norm Winski
Independent Analyst
Recap July 26 - The S&P opened with a 14 handle gap down and then continued another 38 handles lower into a 12:01 PM low. From that low, the S&P rallied 19 handles into a 1:12 PM high. From that high the S&P declined 23 handles into a 3:08 PM low of the day. From that low, the S&P bounce 9 handles into the close.
7/26 – The major indices had a moderate down day to finish with the following closes: DJIA - 228.50; S&P 500 - 45.79; & the Nasdaq Comp. - 220.09.
Looking Ahead – Tuesday had a moderate decline for most of the day. However, in overnight trading the market has rallied enough to wipe out most or all of Tuesday’s decline. This in combination with Wednesday being a Fed day says to me, Wednesday looks like a good time to take the day the day off. The next major change in trend window is for a three 3 way cluster coming on 7/28 PM – 7/28 AC. Please see details below.
The Now Index has moved back to the NEUTRAL ZONE.
Coming events
(Stocks potentially respond to all events).
B. 7/28 PM – Helio Mars enters Aries. Important change in trend Stocks.
C. 7/28 PM – New Moon in Leo. Major change in trend Financials, Grains, Precious Metals, CORN, GOLD, OJ.
D. 7/28 AC – Jupiter in Aries Retrograde. Major change in trend Oats.
E. 8/01 PM – Pluto Contra-Parallel US Sun. Major change in trend US Stocks, T-Bonds, US Dollar.
F. 8/03 AC – Moon’s North Node 90 US Moon. Major change in trend US Stocks, T-Bonds, US Dollar.
Stock market key dates
Market math
Fibonacci – 7/28.
Astro – 7/27, 7/29, 7/29 AC.
Please see below the S&P 500 10-minute chart.
Support - 3880 Resistance – 4012, 4088.
Please see below the S&P 500 Daily chart.
Support - 3880, 3780, Resistance – 4012, 4088.
Please see below the July Planetary Index chart with S&P 500 10-minute bars for results.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
GBP/USD rises above 1.3300 after UK Retail Sales data
GBP/USD trades with a positive bias for the third straight day on Friday and hovers above the 1.3300 mark in the European morning on Friday. The data from the UK showed that Retail Sales rose at a stronger pace than expected in August, supporting Pound Sterling.
USD/JPY keeps BoJ-led losses below 142.50, Ueda's presser eyed
USD/JPY remains in the red below 142.50 after the Bank of Japan announced on Friday that it maintained the short-term rate target in the range of 0.15%-0.25%, as widely expected. Governor Ueda's press conference is next in focus.
Gold consolidates weekly gains, with sight on $2,600 and beyond
Gold price is looking to build on the previous day’s rebound early Friday, consolidating weekly gains amid the overnight weakness in the US Dollar alongside the US Treasury bond yields. Traders now await the speeches from US Federal Reserve monetary policymakers for fresh hints on the central bank’s path forward on interest rates.
Shiba Inu is poised for a rally as price action and on-chain metrics signal bullish momentum
Shiba Inu remains strong on Friday after breaking above a symmetrical triangle pattern on Thursday. This breakout signals bullish momentum, further bolstered by a rise in daily new transactions that suggests a potential rally in the coming days.
Bank of Japan set to keep rates on hold after July’s hike shocked markets
The Bank of Japan is expected to keep its short-term interest rate target between 0.15% and 0.25% on Friday, following the conclusion of its two-day monetary policy review. The decision is set to be announced during the early Asian session.
Moneta Markets review 2024: All you need to know
VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.