many conversations on TV about the huge amount of dollars waiting to be invested … there are always huge dollars available to come into markets when they are ready. the press loves to attribute the daily $Trillions of worldwide buy and sell decisions to a single data point.

They never asked who was buying all that stock, and why, that was sold at the S&P-669 bottom in March.

Long term –
the 1025 target is in reach. the weekly 1015 target was met today , with the high of the day at 1016. many “lines in the sand” here. the next up target is 1052. the 38.2% retracement of the entire move down is at 1019. the nasdaq is near it’s 50% retracement of the downmove, outperforming the the S&P. both have very extended buying pressures. we are now in the 6th month of this rise – in a usual cycle of 8-10 months. we are in the 4th week of this second leg up on the weekly. 820 sets up a down move to 624.

Daily –
met the 1011 daily targets. the next up target is 1046. downward cycle pressures til 8/11, then upward pressure til 8/19; then i see the dominant cycle peaking, ushering in more significant downward pressures. 7 days into this upmove, buying pressure showing divergence. 944 starts a downmove to 874.

SDS – described certain buy & sell points previously. no entry was triggered.