17 Oct 2014 - 5 Days And Counting...

It's been 5 days and prices for the SPX has not had a big impact in moving over the 200 Daily MA.  Even with todays rally, it still wasn't convincing me that prices would burst above the line.  In fact, it could become a resistance.  Therefore it is the line in the sand to watch.

Oct 20 is usually a very impactful day in markets and have seen many major market decline on this date.  Our ST has changed to the UP trend, but longer-term has us in a bear market.  So even if we are to accelerate up or rally, we should still watch for a possible push lower.  I would watch Monday for any clues to whether Oct 20 will be a dud or not.

MT: DOWN
ST: UP
PA: NA