“Those who have knowledge don’t predict. Those who predict don’t have knowledge.” Lao Tzu, Chinese philosopher, 6th century BC

PAYPAL

Friday 6 November 2015

6 Nov 2015 - 75 MA Bounce

Price in the SPX bounced on the 75 MA  of the 60 min. chart as I anticipated now for a few days. This bounce is just short of the 2080 by 3.74 pts.  Currently the signals in the intra-day is bullish while an ST that is on an UP trend.  Therefore there is a higher probability of a move higher.  If the intra-day signals can stay in a bearish position next Monday, we can look for lower low in prices, with a support at the 200 day MA at 2063.

SEN: Bearish (Will turn bullish next week but won't print until EOW).
ST: UP
PA: NA


Note: although the SEN: indicator will turn bullish again next week, I have to warn that the signal will be within the perimeter of the line between being bullish and bearish.  Therefore any trade long or short should be approached with caution until the signal has finally distance itself from the border.

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