​Stock Market Analysis Aug 11 2016

Stocks are finding some short term weakness in mid term strength. 60 min charts of major indexes show that there is some weakness but notice the strong support below which should hold the stocks. We do not want to see indexes drop below support. If the support holds will be starting to look for longs in the 60 min charts.

Click on link to read past analysis. Aug 2nd Week 2016

Meanwhile i'm no longer bullish on oil in the 60 min chart but am starting to see if a double bottom can form in the daily charts.