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Just a short post this morning as the main event is the setup on SPX which could break hard either way today.
Yesterday morning I said that I’d be looking for a test of the lows if the falling channel broke on the SPX 5min chart. It held and SPX made a marginal new low before bouncing to break that falling channel. There is now a very nice looking possible double-bottom in place on SPX that would target the 1780 area on a clear and sustained break over 1759. SPX 5min chart: (more…)
This is a brief post intended to highlight something interesting.
The ES yesterday closed up at 1744, weak bounce so far, not even a dead cat bounce after the dive it did two days ago.
In the chart below you can see the “to go SHORT” and “to go LONG” areas highlighted in red and green. (more…)
