Triangle time

Triangle in play and hit expected resistance at 2172-5 with profit-taking.

Recovery of the T volume oscillator suggesting that there is the possibility of short-term strength into the early part of the week with another short-term high scheduled for October 4-5.

Choppy day-traders market likely to continue until direction resolved.

Chart of S&P500 for 01 October 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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