24 Jul 2013

Our Intra-day analysis yesterday for the SPX has triggered a movement of prices downward.  This may just be a short term as our Main trend is still UP.  The 75ma for the 60min chart seems to be a support zone so watch the level around 1678.  If this is a new trend then we should see this movement to the downside affect our main trend to turn down.  Without the Main trend in agreement this move just becomes a correction and higher highs should prevail.

Main-Trend: UP
Short-Term: DOWN