SPDR S&P 500 (SPY)

[DowDeva]

(edited) Dr. Jerry, I'm going to go out on a limb here and say that this current decline is a short Hurst low; it's possibly even a late 20 week low, rather than the early 7/21 posited 20 week low.

If so, we'll know by the end of the week as 330 should hold short term.

I still have us going up on balance until Labor Day. This projection is particularly pertinent since NVDA had record sales.

GOOG did the same thing a couple of times, flat lined after earnings then skyrocketed higher after a day or so. However, to the best of my recollection, they never rallied the price to the analysts' higher projections first before earnings (500).

That seems to be a new thing and somewhat party pooper-ish and mean spirited as it takes all of the excitement out of earnings and deflates both bulls and bears alike.

But on the other hand, the NVDA options MM's must be partying right now with champagne.