Starting with an update of the major stock indexes with a review of the S&P 500. A rally into the underside of the uptrending channel and the ‘Preliminary Supply’ (PSY) resistance level is evaluated. Intraday PnF studies are considered. Rotation from growth to blue chip dividend paying stocks are discussed using the ratio of two ETF funds and their PnF characteristics. A study of U.S. Treasury interest rate trends and a projection of how much they could climb using horizontal PnF technique is discussed.
Then attention turns to a preview of the Wyckoff Market Report presented by Johni Scan. A top-down organization of the letter begins with Stock indexes, then sectors, then best and worst performing industry groups and finally to a list of stocks organized by Wyckoff characteristics.
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