28 Jul 2014

The price for the SPX has supported near the indicated support range, and have caused a bounce up.  The key here is the 60min chart where a potential resistance exists and would need to push and make lower lows.  But the 60min trend right now is in a bullish trend, therefore we need to make sure that the 60min trend syncs with the moves made by the daily and weekly charts.  The PA indicator was put on a downward momentum, and it did happen, yet prices also manage to cover the accelerated price made in the morning turning the move bullish with a hanging candle having been formed on the daily chart.

MT: DOWN
ST: DOWN
PA: DOWN