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I had fixed 60min sell signals yesterday morning on ES and TF, and a weak RSI 5 sell signal on SPX. The TF signal made target but I’m wondering if SPX and ES will need a bit more retracement today. If so I’ll be watching the 50 hour MA at 2284 and the open gap into 2280.85 for support. On the upside rising wedge resistance is now in the 2312 area. SPX 60min chart:
Two quick early-morning items. First, it’s good to see crude continuing to weaken. The grand and glorious goal is a break of support (green tint), since we’ve been range bound for two solid months now. As I’m typing this, it’s actually lower than the chart below, down over 1.5% now.
Second, I’m in make-fun-of-SNAP mode these days, because I think it’s an IPO designed for buffoons who thought 1999 never happened, so I found this little snippet from their S-1 kind of fitting. Click the image to see a bigger version.
No, it’s really there. It’s on page 110. Honest.
