FOR FRIDAY: (8/3) Tim Cook saved the world with the APPLE stock buy back as APPLE became the first trillion-dollar company. The day was a bit of a game changer and cycle highs for stocks and a secondary high now suggest Tuesday and we have to see where it lands. That means gold could break to 1170 and silver to 1480 into the end of next week. Dollar close to a breakout but it does not go without cycles. War tensions with war games into the weekend is a bit disturbing and it will be hard to take stuff home as US tensions may also be intense.
SEPT. E-MINI S & P 500
S & P ANALYSIS FOR FRIDAY: (8/3) We originally had Thursday higher and got sucker-punched with the China news overnight as we tried to squeeze a few more drops to the target of 2780. The market had only gone to 2791 overnight. The sharp recovery in NQ from APPLE is a reminder how much a few stocks are moving the market and distort what is really happening. Resistance overnight for SP at 2838.50 and 2844.00. The market seems higher into Monday/Tuesday but Friday could be profit-taking on this absurd rally. Not sure what to do with it but have to get out of the way.
CYCLE SYNTHESIS: Volatile Friday; higher into Tuesday; lower into Aug. 9.
