morning INDEX review 8/1/19

. SPX broke broke the hyper and intermediate trends measured by the 8,21 day moving averages.

a) found support at the bollinger band low and retracement at 2958.08. There is further support at the gap at 2944 and 2925 50 day, and below that 2912-13.

b) looking to short ES in overbought 60 into strength

c) will look for a scalp long at level at extreme oversold and test of overnight or yesterdays low

NDX like the SPX also broke some bullish trends. Also found support at the bollinger band low and 23.65 retracement with a low of 7774.93. Further support at the gap at 7682 and the 50 day 7644 50 day.

also looking to sell strength on 60 minute and will be extreme weakness for a long scalp.

RUT broke out above 1588 and stalled at just below 1600. This is something I will watch to see how it trades relative the other indexes

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