Thursday, July 24, 2014

Treading Water...7.24.14

Today's action looked a lot like yesterday.  AMZN stumbled but they've actually never made money so it was just a case of losing a little bit more as they ramp up the drone delivery program.  (HA).
Here's a look at the new M3 dashboard which will be released this weekend.
The best news for the bulls is the VEGA chart below which clearly shows the gradual and on-going melt-up.
The neutral behavior of XLU over the past few days is supportive of the bull case.
Maybe SPY 200 tomorrow although the Z-score readings are negative.