Price Pulse Update

Yesterday was an “outside” day in the cash S&P500. Today is jobs report day. Although we still have the overhead targets discussed yesterday, I would like to update the price pulses quickly for you as we end the week:

Level 1: We are in a Beta pulse down. Weakness would be signaled on a move below 1083.74.

Level 2: In an Alpha pulse up. Beta underway with an “early warning” of a turn to bearish conditions on a break of 1083.74.

Level 3: Also in an Alpha pulse up. A warning of bearish conditions would be signaled on a break of 1050.65 (upper trendline; see chart).

Level 4: In a Delta pulse up. A break of 1029.38 would be bearish.

The bulls should hope that 1083.74 holds. If my read of the pulses is correct a break of that level could start a cascade down. However, I do expect it to hold if only because the weekly DeMark indicators have not signaled a “sell” yet. But, for those Longer-term traders/investors who are not already long I think risk is too high here and so would sit tight.

Technical Analysis of Chart positions for longer-term positions:
Dollar Index: Out. (0.65 point loss after 1 trade).
World Gold Index: Out on a close below 1179.20.

Waiting for initial signals on the following charts: 10 yr Bond Yield,
Cash SP500 and the CRB Index.