Charts for July 28, 2025

Weekly charts update (long term setup):

SPX:

* ELC goes up and THRUST goes down. That's tricky, but after a high thrust move like this you do not necessarily get a quick or big correction. * Weekly Repellor ( 5840). Support.

* Weekly SwX is green – bullish. * MoM goes up, but slows down a bit. * The red channel is the main long term channel to watch. * The overhead green trendline, connecting the peaks of the recent years, is being tested. * Traders who are looking to short this market will try to do it at this point. How many traders that will be is something we don't know.

Bonds TLT:

* SwX stays red- bearish. * MoM goes up with bullish divergence. Needs urgent follow through to avoid turning back down. * A breakout above the red line remains the missing element to become more confidently bullish here. But it would be a very nice two year base at the 85 level if the next move is to the upside.

Weekly Gold:

* SwX is red – bearish. * Weekly MoM goes down. * Still in a sideways consolidation. * The steep green trendline is at the point where it may be given up. That could trigger more downside.

***

Daily charts (you can click the charts for larger image):

SPX:

* 359 stocks in bullish mode. Small downtick. * BullsPower at 48, BearsPower at 10. Bulls keep the upper hand with a strong lead. * Above both Watershed lines = bullish. The dW at 6272 is a first line of defense.

* ELC goes up. Lot of indecision in this indicator right now.  * THRUST goes up. But risks painting a bearish divergence * BUD2 keeps weakening gradually and may go for a bearish crossover. * The Repellor is at 6178. * Price action in the upper levels of BlueSnake  = continuing rally.

* Rotator goes up. Both components are rising * The Bands keep rising steadily. * Trading remains in the upper band = bullish. * Painless trading for about two months already. When trading becomes painless it's ready to become painful. The question is always: when? * Luck favors the prepared.

* SwX stays yellow - neutral. The important point to watch here is whether it goes on to red or gets back to green. * MoM goes up. * The green trend channel stays solid as rock. And the red line makes for a possible wedge.

* Icebergs algo. * Green mountain is back above the healthy +4 level. * But we have a "vulture" flying over this mountain peak again. * Previous vultures in early July didn't produce any significant downside. So, they got nothing to eat. But that doesn't make it any safer the next time you see them.