Prices are now above their 75 Day MA. This coupled with a shift in ST to the upside is a bullish sign. I am still bearish however due to our market signal pointing bearish ----------->
Based on the Fib. levels, price in the SPX is hitting resistance at its 61.8% retracement line. So tomorrow would be interesting to see if the intra-day charts reverse and out of OS. I will be looking for weak signals for opportunity to short the market and will wait any rally out.
MT: DOWN
ST: UP
PA: UP
SHORT AT YOUR OWN PERIL!!!!!
ReplyDeleteSMALL PULLBACK.....THEN NEW HIGHS!!!!!!!!