Market Summary

The market appears to have made a 4th wave high at 94.45 on the SPY and 943.85 on the S&P 500. I posted a target of 960 to 1025 for the S&P 500 as the 38% to 50% retracement levels. However, the long term trends in these markets is lower and any bounce in the market is a selling opportunity.

The table below shows gasoline prices making the only rise in price last week. Gold came in second with a loss of 1.4%. The biggest losers were Oil and the emerging markets. Click on table to enlarge.