pay attention or pay the offer

Divergences are supporting a mild rally attempt here.

Here’s my read on the short-term S&P outlook.

Now what? You must have subscribe to the Premium Level to see the remainder of this post.

I’m back from a wonderful, but brief trip to Vancouver. Here’s what’s going on in a few markets of interest.

• Schedule: I am under the weather today.  I’m supposed to fly out to a family wedding tommorow.  The blog will be back and hitting the ground running on July 6.  I’m expecting the markets to get very quiet as this week progresses.
• Folks have been asking for some sort of mechanism to let them know when new posts are up. I think I’m going to use twitter for that purpose. This will greatly improve the usefulness of the blog for short-term traders.
• I’ve eliminated all the ads on the site except for the Amazon portal (which is also useful.)
• Have a happy Fourth of July (for those in the U.S.!)

It’s a four day holiday week coming up.

Here’s a look at the current weekly and daily gold charts.

Here’s an updated solunar model chart for the Dow. Given the recent discussion about tidal dates in the comments section, I put together a chart of the 2009 tides, both the high tides and low tides. I use the Reedy Point data that Taylor uses in his book, Paradigm.

Yesterday’s update highlighted the 895 area as the price where penetration of those double net-lines would lead to further rally. I also pointed out the improvement in the modified DMX that was signalling a rally attempt. Clearing 895 this morning has produced upside follow-through. Now what? At what prices are the eMini expected to bump their head on resistance?

Much of our intraday work tracks the eMini as it bounces between the various channels.

Oil is clearly undergoing a correction in the daily time frame, similar to the pullbacks in gold and euro I highlighted here. But will this be a larger downturn on the weekly time frame?