25 Feb 2016 - Another Fast Moving Day

Acceleration extraordinaire with the last minutes of closing.  Crazy is what I call it, and although I could say that it is somewhat manipulated, I have more belief that this is just part of the cycle we are in.  Unfortunately, I am not an expert or claim to be an expert on cycles.  What I do know is that we are still in that "Acceleration Up" phase, and it could just keep running and it won't matter what your cycle says. What this blog is all about is the risk and probability factor.

I am tracking the resistance angle (blue dotted line) for the past few weeks as the likely stall point for prices in the SPX, but this is just a guide.  While we have arrived, the signal still suggest a risk for acceleration.  Therefore, we would need a confirmation of a down-turn before entering short or exiting long positions.  So either we can remove the signal from an OB scenario to start a short or to liquidate longs, or we can look for the intra-day charts to at least be in the bearish and OS camp.

SEN: Bearish
ST: UP
PA: UP