29 July 2014

The SPX is still supporting near the critical trend line I outlined a few days ago and this would be a make it or break it for the bears.  The moving averages on the 60min chart seems to hug this trend line showing some importance.  My feeling is that we break this line as it has tried multiple times and must eventually break.  That said, it is not a great analysis when all it is is just a feeling.  Our indicators still remains down and should be followed for the short term turns.

MT: DOWN
ST: DOWN
PA: DOWN