The SP gained 7 on the day where the pattern recorded the 8th day down. Note the confluence of interest at the 1312.50 area where the 10 and 50dmas lie and where the 8/8 Gann level is set. Wow, is this an important resistance level or pivot point in the market. There is one other key feature worth talking about in the current Seeker setup. The SPs are now 8 days down but the 8 candle is not lower than both the 6 and 7 labeled candles in the count so unless the 9 is recorded below both 6 and 7, more testing of the 1300 level is likely.

Naz was higher by 21 on the day and was slightly stronger than the SP because price closed above the 10eam. Note that the Seeker has recorded an upside price flip.

Multi sector daily chart:

The SOX continues to bearishly lag the NDX100:

The spread between the gold futures and gold continues to bearishly widen:

The XAU was the best performing major index on the day. The 50dma so far had been a critical pivot. The next target is the 76% fib.

The OSX settled right between two key MAs and has possibly recorded a higher low. Note that the Seeker exhaustion signal is still active.

The SOX continues to lag, but has held the active static trend line. The Intel earnings Tuesday night should set the tone for Wednesday’s action.

The BKX continues to struggle, the next support is the 200dma.

The BTK biotech index is tired but holding above the 10ema.


Gold swept but closed below the 8/8 level at 1500: