I'm on holiday in Spain for a few days and the place I'm staying is just beautiful. The scenery is lovely, the hotel is nice, the food is great, and the internet access is terrible. I can get internet access in only two places here, in the main bar and in hotel reception, and it's as though I have stepped back into the 1990s. I'm writing this from the bar this morning but, realistically my ability to keep up with the markets from here is going to be very limited and, this will therefore be the last daily post until I'm back at home on Friday 20th July. I'll be checking in from time to time and will post any interesting charts on twitter at @shjackcharts. I'll also do my MarketShadows weekend post on Saturday and will tweet that when I've posted it.
The SPX low on Friday was a very nice technical low and I would generally expect that to be the short term swing low. Here's the chart I posted on twitter on Friday afternoon showing the very nice W bottom that formed on positive RSI divergence on the SPX 15min chart:
