In addition to the AMZN news about the cloud services that is causing a lot of key technology companies to scramble, the US government officially hit the debt ceiling today. While there are ways around this for a few months, the longer this drag on without a resolution, the worse it will be for the market.
Some key activity in the indices and commodities is forming out. First, the broad market S&P 500 is right on the two-month uptrend line:
NDX also approaching, although it has been stronger of late until Monday. NASDAQ volume was 2 billion shares:
The 95 level on oil is the area to watch:
And look at this trendline on gold, which is very specific:
Meanwhile, the SOX has not been a leader for a while:
And the Biotechs are coming back:
