Sunday, July 31, 2016

Dazed And Confused And Dazed: I Have No Idea What To Write About Or Comment On In The Stock Market Excep Small Caps (IWM)

The S&P continues to be in a confusing slow 'melt-up' while the market grinds higher (for inexplicable reasons). The only thing I like at the moment is Natural Gas (UNG) however S&P Small Caps (IWM) might be in for a little trouble next week. The RSI(5) has just put in a sell signal and my TRIX and MACD indicators appear to be about to bearishly crossover. Support in IWM should be the EMA(34) which also happened to be a resistance level back in November, December and again in June (just under $118.00).