IT IS TIME TO TAKE RISK-OFF SHORT TERM > Go Net Neutral (Possible further movement has too high a RISK to merit being LONG) SHORT TERM LOW: Looking for a Near Term retest of the recent 1850 on the S&P 500 (Small “M” External Strength) before falling towards 1700 and the S&P 200 DMA by […]
Market Road Maps, SPX Road Map
The current pullback is roughly on course with a move fulfilling the wedge pattern (black dashed). Having slightly pushed through the patter, the current movement looks to be a consolidation and we watching for more drop, at least to the highlight (yellow) solid blue s/r. If the market breaks through this, we are then looking […]
Channels & Regressions On both the previous and the chart above, red circles mark places of interest for the pullback that we are watching. Despite the drop experienced by the market so far, the indicator still remains in a positive trend – above the trendline on the indicator. This will need to be broken for […]
We have been watching the boundary conditions for some time, noting the push against the upper Bollinger and waiting for a pullback. The pullback has occurred and we ar now watching to see how deep it will go. Several potential supports can be seen below the market, and these are all suggesting the market has […]