Will it continue?
In my readings yes, it will. However, an upcoming correction is expected in the next 12-36 trading hours I feel.
As we are here to learn to read signals and make appropriate action, I will take profit at signals and I'll indicate you that. However, 2-days and 3 days charts suggest further upward continuation. Dollar started it's decline. Bull rules the market at any price.
R3k (RUA)
2-days
Long-term indicators just confirm clear bull. Selling volume is still in elimination phase. This is one of the safest period of cycles. AD bullish momentum is huge, not seen in last 7 years. Elimination of this bull has a very low probability in the next days. Sentiment still has place going upward.
1-Day
A little weakening in 1-day histo signal gives a chance for an upcoming correction. Longer time frame overrides shorter, so we can count with a correction but it's power will not so big.
I plan to buy 1 unit of SPX. Two conditions needed: break out 1126 (done, but only tested) and pullback (expected in a few trading days).
SPX
1-day
Ichimoku
I feel our week-end analysis worked well.
I've changed supports, liquidation zones and estimated bull/bear scenarios. I hope you remember what I was writing about bull-backed OPEX wednesdays.
http://smartmoneyvolume.blogspot.com/2010/07/opex-wednesday.html
GOLD
Running bull is in play. I expected some bigger correction and more volume insertion. I am waiting with the 3rd unit HUI investment. Current cycle should cool down soon.
Good luck!
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