On NYSE - A new month and sp continues today running in a two-penny range. Daily Stoch/Mac seem to be peaking and OBV is flat. 60min is similar with OBV showing no accumulation interest for the last couple of days. A bit of pre-lunch, and into lunch buying, apparently happening now. Ask showing a large block at 0.4397.
S&P popping big time to open the month of August. Pretty much a sea of green on my watch lists. Well, except for the miners. Better than expected numbers on construction spending and manufacturing. Could be a setup for later in the week, so beware, beware, beware as the Friday unemployment numbers are coming.
Gold on the way down at this time. Had a pretty good run up yesterday until close of NYMEX, then was flat overnight, before fading as London opened. Good pop this morning by speculators to start the month, then dumping began right after 10am. GLD Daily technicals show that July did not treat gold well with lower lows and lower highs through the month. GLD 60min technicals have peaked and are going Bearish. August appears to be continuing a similar trend.
Hope everyone had a decent weekend and your week is a good one. Any of you Car nuts attending Hot August Nights in Reno? If so, PM me or post in OT.
