What a stress filled day... First up then down then up, and finally in between. Our intra-day signal managed to close the day with a sell. SPX prices remained just below the 20ma and supported by our angle on the 60min chart (Green Dotted Line). This line has been the support resistance line since Aug. 21st. The candle pattern today produced a hanging man reversal candle. Give one to the bears..
Main-trend: DOWN
Short-Term: UP
Our reactionary day yesterday would have been better suited for today as volatility just killed many who traded today with the whipsaws. If you made a profit, consider yourself lucky. This is what the candle shows and its what the candle states... Indecision.. therefore nobody wins... We do expect for a move down next week though but we will see when we get there.
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