PM Update. Some ugly price action today, seen both sides of the range (mentioned below) touched with minor breaks. Also interesting pattern possibly formed, looks like upward sloping Diamond, similar to the top in April.
(See chart below).
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AM Update
Today, is one of those days, when I am lacking inspiration. Not much has changed over the past 24/48 hours, the SP500 has been rangebound, having touched exactly the resistance at 1150 on Tuesday, then fallen away to the first support at 1132, for me these 2 levels are key for now. I remain undecided as to direction, there is definately an underlying Bullish momentum behind the SP500 after the surprisingly strong September, however as I have pointed out over recent days, there are plenty of potential warning signs that this could turn ugly again (See postings below). In the meantime patience is required.
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we seem to have an asc tri coming up on the spx. todae will b interesting..
ReplyDeleteHi Dan, brilliant spot on the Asc Tri, today's high was exactly on top line of that. Looks like we could have a key day reversal today... watch the close,,, -- This could of course be Month End window dressing, but it may be something more sinificant, at least the latter is my hunch...
ReplyDeletehey G70, thx for the compliment. i am just lucky, haha. i am looking to short when it rebounds. my target is 1143 on the ES. nice charts man , i have great insights from your charts :)
ReplyDelete