Pfizer (PFE) reversed off the lows as we forecast it might. This short squeeze took out the trailing stops in the $34.60-$34.75 area, and we will suspend our forecasting in PFE until the stock shows a high probability entry once again.
Apple Inc (AAPL) cleanly tested the $120 target zone as the stock exhausted itself to the downside. Having taken some profits off, the power measurements forecast a lower high and a retest of the lows.
The Eurodollar vs. The U.S. Dollar (EUR/USD) continues to chip-chop around within the bullish zone of accumulation (green zone). The bearish power is quite light, so we would expect to see this market reverse and head back up to test higher in the week to come.
JP Morgan Chase (JPM) has exhausted itself to the upside, and is poised to set up a shorting opportunity. We are watching for a lower high to form to raise the odds for reversal to acceptable levels. Our expectation is that this market will turn over now that it has tested the $69 per share…
The S&P 500 index proxy (SPY) is pushing back up into resistance, and we expect to see a lower high form within the red zone. This remains only a two diamond forecast at this time as the political pressures might overwhelm our supply/demand analysis with one headline.
