16 Jul 2013

Yesterday we indicated that the 60min chart for the SPX was looking weak due to its MACD and overhead resistance lines.  Today we turned down and below the 80 Stoch. line also discussed yesterday.  As you can see from the INTRA DAY post there was a sell.  Remember that this is only intra-day and I am going to provide examples within the next few weeks that trading does not have to be so hard and so full of indicators.  It requires but only one thing, and that's DISCIPLINE. 

We are Intra-day on a down trend but keep in mind our main trend indicator...

Mid-Term:UP
Short-Term: DOWN