I Can See for Miles

I know you've deceived me, now here's a surprise
I know that you have 'cause there's magic in my eyes
I can see for miles and miles and miles and miles and miles
Oh yeah
Pete Townshend, (The Who), I Can See for Miles, 1967

Mr Market makes another interesting move up to an important line, and from here (at 2366) we can look back to a rising line from the late February 2015 peak – an important turn.

The T volume oscillator responds and strengthens indicating strong support for the gap and go and suggesting continued higher prices or at the very least a consolidation at these levels.

Chart of S&P500 for 22 February 2017

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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 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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