
Breadth ended at 1.13:1, decliners, uneventful, and consistent for a day of consolidation that fits well with a 4th wave. The trend closed at 25% bullish, but some of the data is from daily charts that have not been updated yet, so if there are any more signal changes I will update ASAP.


7:28, The SPX has broke thru quite a bit of support this morning, including the 20 day MA at 1089.63, the 50 week MA at 1090.34, and made a lower low. On the trend, right now there are 5 buys, and 3 sells, for a total of 25% bullish, but three of those buys, are on the verge of signaling a sell, and that would move the trend to 50% bearish. Any more downside is going to move the over-all trend to down!!!!
7:19, Things are getting interesting now, as the sell-off is looking more impulsive as we have three waves down, this can also go corrective with an a-b-c, replacing the 1-2-3 count in black.
Click here for a live, and updated chart!!!
6:52, The SPX is still respecting the bearish fans, good news for the bears as long as the price stays with-in this set, breaking out of them, to the upside would be bullish!!!


6:52, The SPX is still respecting the bearish fans, good news for the bears as long as the price stays with-in this set, breaking out of them, to the upside would be bullish!!!
**** On the trend finder, a 3rd sell signal was triggered right after the open, moving the trend from 50%, down to 25% Bullish
No comments:
Post a Comment