11 Nov 2015 - After 2 Days Of Support

Price in the SPX has broken the Gann angle that I drew up on the daily chart posted on Monday.  It only took 2 days and since we broke that angle today, we should look for the next support at the 200 day MA (2063.95) followed by the 200 MA of the 60 min. at 2046.  Yesterday I said that the intra-day needed to stay bearish in order for the daily charts to have a chance to turn bearish.  Although the daily has not turned bearish it is closer to its goal.  We have not been getting any acceleration due to signals out of range from the OB/OS conditions.  The lower time-frames will react first and manipulate the larger time frames so if you are watching the intra-day charts, then watch any time frame to hit the OS/OB range.

SEN: Bearish
ST: DOWN
PA: NA

Note: Some cycle analyst are looking at the 2020 level for a low... I cannot confirm this but it is a level to watch.  2020 is also the 75 day MA...