Note that a higher price breaking the May 22nd price high would allow our weekly to form a divergence. So this possibility increases the chance that a higher high will be made.
Mid-Term:UP
Short-Term:DOWN
Wednesday, 17 July 2013
17 Jul 2013
Our Intra-Day signals for the SPX is still on the sell side, and nothing has changed since yesterdays short indication even after the rebound from the lows. All signs point to more sideways corrective move and if we don't break our 60min up trending channel indicated on the chart below then we should see higher highs sooner than later. As it stands our 75ma is also on that same uptrending channel support. Our overhead resistance is still quite strong and it could just be a matter of time, but we have to respect its influence over the price movement.
Note that a higher price breaking the May 22nd price high would allow our weekly to form a divergence. So this possibility increases the chance that a higher high will be made.
Mid-Term:UP
Short-Term:DOWN
Note that a higher price breaking the May 22nd price high would allow our weekly to form a divergence. So this possibility increases the chance that a higher high will be made.
Mid-Term:UP
Short-Term:DOWN
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