As we prepare for the downside, an option of a diagonal triangle could be forming and could push the CIT date into Nov. So just be prepared for all scenarios. I am still bearish so any trade for me is only to the downside.
SEN: Bearish
ST: UP
PA: NA
Wednesday 21 October 2015
21 Oct 2015 - Still Within Range
We are still within the corrective range on at intra-day basis, but the ES has gone bearish at this point, so tomorrows open session could tell us if there is a continued down pressure in the markets. Support in the short term seems to suggest around 2010 area in the SPX. Be aware of the 3rd wave count to the downside as this is a possibility that could accelerate prices. For now though the indicators do not seem to suggest that it has started. If our intra-day signal tomorrow does enter the OS condition it will have a risk of more accelerative momentum.
As we prepare for the downside, an option of a diagonal triangle could be forming and could push the CIT date into Nov. So just be prepared for all scenarios. I am still bearish so any trade for me is only to the downside.
SEN: Bearish
ST: UP
PA: NA
As we prepare for the downside, an option of a diagonal triangle could be forming and could push the CIT date into Nov. So just be prepared for all scenarios. I am still bearish so any trade for me is only to the downside.
SEN: Bearish
ST: UP
PA: NA
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