Hello Everyone,
Quick Notes: Typical FOMC chop/volatility with the major indexes closing down, except for the Russell 2000. As you know we continue to be earnings season. As far as the market one scenario I'm showing short term is Tuesday's sell off and bounce off the mid day low's as a wave B, which would need a wave C lower to complete (remember on Tuesday's sell off price didn't completely fill that open gap on the cash SPX index and so that may still be a target).
Precious metals and especially the stocks in that sector had a good day. I added a handful of setups in that area.
Trade Ideas - note I finally added a handful of new setups that look decent
have a great night,
Matt
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7/23: SPX daily DVT = 4260, SPX 2 day DVT = 4232, Weekly DVT = 4057
QQQ daily DVT = 352, 2 Day QQQ DVT = 348, Weekly QQQ DVT = 325.2
