“Those who have knowledge don’t predict. Those who predict don’t have knowledge.” Lao Tzu, Chinese philosopher, 6th century BC

PAYPAL

Wednesday, 17 August 2016

17 Aug 2016 - EOD

FED driven rally has given the daily chart a reversal candle, but has not been confirmed by the indicator.  It is up to your discretion as to the trigger point of course, but I side more towards a signal confirmation which is important in terms of consistency.  The bottom for the SPX today has put in a support at the 200 ma of the 60min chart, and the down sloping trend line as well.

SEN: Bullish
ST: DOWN
PA: NA
R: Possible Aug 18th open if signal can cross OB range in the intra-charts.


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