Lowrider cars aim to cruise as slowly as possible. Owners paint them with intricate, colorful designs.

Lowriders ride on 13-inch wire-spoke wheels with whitewall tires. They have hydraulic systems that allow the vehicle to be raised or lowered on demand.

Some of you might be thinking-how long is Mish going to stretch the car metaphor? Heck, I’m thinking that.

Crazy thing-it’s working!

The market has required precise steering (7/5/17 Blog) and vintage tools, especially hand cranks (7/6/17 Blog.)

The Transportation Sector (IYT) took a holiday from death and made new highs (7/8/17 Blog).

Plus, yesterday IYT had us wondering if the hotrod was indeed ready to percolate.

So why a lowrider today?

The invisible hand that drives the market to raise or lower was visible today.

For instance, painted with intricate designs, Transportation (IYT) cruised as slowly as possible.

At one point, after news came out, IYT’s price lowered to 172. Then, it bounced right back over the critical monthly channel.

Semiconductors continued to trade colorfully, closing nearly 1% higher from yesterday.

Even Retail (XRT) began the day making a new yearly low only to bounce back into positive territory.

As mentioned last night, I prefer to see buying in the Modern Family sectors for promise of a stronger U.S. economy.

Today, the Russell 2000 (IWM) helped the rest of the indices. Hugging the pivotal 140 area, IWM like lowriders, made sure the public saw its bounce.

Yet, are the market hydraulics as easy to move up or down on demand as the touch of the switch in a lowrider?

Keep on the lookout for a major cyclical switch.

In lowrider culture, owners will barter for labor and parts.

Equities, after an 8-year run, could be ready to barter with commodities.

After an 8-year bear market, many commodities are looking like they are getting fitted with hydraulic systems and whitewall tires.

S&P 500 (SPY) 244-245 resistance to clear. 242 pivotal Under 240 not so good

Russell 2000 (IWM) I’d still consider the channel resistance at 142.90 as the number to watch. 140 pivotal. 137.50 support

Dow (DIA) 214.35 pivotal. 212 support.

Nasdaq (QQQ) 140 resistance. 137 pivotal and 135 support

KRE (Regional Banks) Must hold 54.75 clear 56.00 once and for all

SMH (Semiconductors) Confirmed bullish phase. 83.50-84.00 pivotal.

IYT (Transportation) Unless it has a vicious fall below 172.00, so far so good

IBB (Biotechnology) Held 310 today so must continue to do so

XRT (Retail) If can get back over 40.00 so much better

IYR (Real Estate) Held onto the 200 DMA with 77 the ultimate support

GLD (Gold Trust) Should this clear 116 with volume could be a reversal pattern in the works.

SLV (Silver) Double the average daily volume and possible reversal pattern yesterday that confirmed today. Risk below yesterday’s low.

GDX (Gold Miners) Didn’t confirm the reversal pattern

XME (S&P Metals and Mining) confirmed accumulation phase-looks good-part of the commodities cycle

USO (US Oil Fund) 9.00 the ultimate support held but not until this clears 9.50 is it exciting

TAN (Solar Energy) Must close above 20.00 to keep going.

TLT (iShares 20+ Year Treasuries) 124-125 resistance. 122.25 support

VXX (Volatility Index) No drama no fear

UUP (Dollar Bull) Closed under 24.80-so that’s a good pivotal point