7/6 12:45

Just bought 2% SSO at 32.34.

7/6 12:30

I count the 1st 4 Sub-Minuette waves complete of a 2-week rally.

7/6 11:30

The global stock market rally was so powerful and broad that it dispelled fears of monetary disorder.  Gold suffered as a result.  Yet, gold should have a snap-back once the stock markets settle down to a sustainable run.

The stock market appears to have completed wave Sub-Minuette 3 of Minuette 1 of Minute 1 of Minor 3.

Bought 2% SSO at 32.61.

7/6 9:30

The rally off of last night's low was the longest, sharpest rally we've had in weeks, spanning 2.6%.   The cash market will run into the 5-minute, 380-unit M/A and should enter into it's first reaction.

We can see the SP futures take off from the low and hit it's first resistance:

7/6 pre-open

I1 bottom is in.  The SP futures double-bottomed last night on a 3-wave.  My count is correct and wave Minute 1 of Minor 3 is complete.  The rally is a straight line off of the low at 1004 to 1029 currently.  This is a launching rally which will run into resistance here.  I bought SP futures on breaking 30-minute M/A resistance.  Will buy long ETF on a reaction.