26 Oct 2015 - OB In The 60... How long Can It Go?

Price have paused for the opening week, and the acceleration up that started last Thursday seems to still be in play.  The intra-day chart is still showing an OB reading and could still push prices higher.  Of course this is based on the index, and most of the equities out there have a differing setup, therefore look to the intra-day charts of the issues you are trading to see where the trend is currently taking you.  As much as the equities follows the market, they do have their own rhythm and cycles,  In general to make analysis easier we use the SPX as a state of the market sentiment.

The pattern that has formed today suggest price still moving up before a move lower starts.

SEN: Bearish
ST: UP
PA:  NA