Standard

The S&Ps visit the January high and pull-back a little, just prior to the initial projection for a high from the small T centered on the recent low.

Maybe just nerves, but the market is still somewhat vulnerable at a major target.

Today is an echo high which frequently brings with it a lack of buying power after an important high.

Chart of S&P 500 for 22 August 2018

Be prepared for whatever is coming next, and trade with confidence:

To receive detailed daily analysis, guidance and the updated daily Buy / Sell trigger levels being generated by the Trading the Line system before the market opens, and intraday alerts when appropriate, please become a Member and Sign up for Alerts & Observations – includes access to Members Area and the Explanatory Notes for all of the concepts discussed.

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 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.

 

Comments

No comments yet. Why don’t you start the discussion?

Leave a Reply

Your email address will not be published. Required fields are marked *