July 14, 2010

Markets stayed within narrow pivot points all day on average volume. Bad economic news about retail sales. Good earnings in tech.

SP500 pivots for tomorrow: Narrow -1089-1100; Wide – 1077-1110 . Currently in a heavy resistance zone up to 1120.

Gold pivots for tomorrow: Narrow – 1201-1216; Wide – 1186-1233 . Nearing resistance zone up to 1220 (for GLD)

Short-term: 1 green, 2 yellow, 1 red – tending yellow
Intermediate-term: 1 green, 2 yellow, 1 red – tending yellow
Stock targets: 11% swimming; 21% treading water; 67% sinking

Possible short-term reversal coming up. Better to close longs than to put on shorts at this point. Small caps look most vulnerable. Tech looks strongest.

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