7/17/2017

Not much change to pivot status. Safe havens were a bit stronger. NYA is testing its YR1 and would be the last of all the main indexes I track to clear (SPX/SPY, NDX/QQQ, INDU/DIA, RUT/IWM, VTI, NYA).

I am keeping to bullish view until the market forces me to change mind. Still think we will see SPY Q3R1 at minimum. GLD position from 7/11 to my surprise is working well. I may try a short hedge on RSX to try to lock in some gains on EEM and INDA, but not yet. Given health care news overnight, IWM also might be a hedging trade against SPY positions despite its strength today.

SPY, NYA and GLD below.