Bastille

Joyeux Quatorze Juillet

Time for a pause, waiting for expiration and ready for a pullback.

Today/tomorrow we are at the end of the first arm of the T structure suggesting that we are probably at the end of this initial strong push higher.
It would be logical to see a pullback to the breakout level and determine whether resistance can now become support.

Chart of S&P500 for 14 July 2016

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Disclaimer: This is the diary of a personal trading system, its methodology and the signals that it is producing. You are welcome to follow along but please understand that the information presented here is for educational & entertainment purposes only. No recommendations are being made to buy, or sell stocks, options or futures contracts. Please consult your own financial advisor before making any investment decisions. 

 

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