A navigation system for trading the S&P500 index
Waiting for the holiday to start now.
First see if we close above 2085 to initiate a Buy Signal.
No CommentsSo we are at the 200 day moving average, and are looking for a low, perhaps in the 2020 area.
Good buying opportunities exist below the grey channel, so not thinking we are there yet.
No Commentslack of recovery after the initial bounce and continued selling triggers a sell signal at 2075 or lower.
An overnight trade makes sense after such heavy selling.
We are now looking for a new low and a fresh T structure.
No CommentsA relatively uneventful expiration day, and sitting on the 55 ema undecided.
But seriously negative futures are showing the direction and now we can see if we have the big drop that has been half expected. Difficult to get in on a big drop so probably best sitting out and waiting to see how the morning goes.
No CommentsBack on the 55 ema which is a line in the sand and on a rising support line.
Question is are we going to get the nasty correction that some are saying is needed now?
No CommentsCover at yesterdays close of 2108
No CommentsYesterday's 'pop' adds some clarification and I would suggest that it is a strong Buy Signal with the potential of a summer rally into late August.
Certainly looks good on the T volume oscillator.
Dare I suggest 2250 is on the cards. There is a lot of pent up energy in the market.
I have a memorial service to attend to on monday: 'Bless His Everloving Heart'
No CommentsStarting to look like a W shaped bottoming pattern.
Cover short and initiate a S/T Buy Signal at the close at 2101.
No CommentsStrength into expiration? Watch for strength above the 55 ema.
No CommentsDrop out of the gate gives little opportunity to sell. Wait and watch to see if a recovery occurs.
Go short at the close 2084
No Comments