S&P500 signal

With today's move down to 1870 in early trading, we have a confirmation of the expected move lower.
Of course with option expiration tomorrow we can expect a short term bounce recovery and that may give a better opportunity to go short.

A move below 1860 today cancels out yesterday's Buy Signal. The yo-yo continues.

Short Signal now below 1857.

Assuming that we can hold onto 1869 into this afternoon's close then we have a Buy Signal. The yo-yo-ing continues. Looks like the Fed didn't really mean to upset the market….

With the drop at the open and subsequent failure to rally beyond 1862, we have an intraday Sell signal.Of course we now are back at the lower range of the recent congestion.

Today's action negates the recent recovery in the oscillator, signalling the likelihood of further weakness.

With the move down to 1852 this morning a SELL short signal is occurring.
Lets see if its confirmed by end of day. Looks like the oscillator may be correct.

With the move above 1866 a Buy signal is occurring. Be prepared for a whipsaw back to the short side in the next few days. Stop and reverse position below 1851.5. The oscillator is starting to give a sell warning signal indicating weakness – I will hold the earlier L/T short position from March 12 as a hedge.

Cancelling the S/T Sell signal registers a loss of 24 points

A little late in the day and will quite probably bounce tomorrow but we hit a SHORT ONLY SIGNAL with the penetration below 1843. A move back above 1867 tomorrow will reverse the signal.

Hit my end of day S/T stop at 1868 by the close after teasing 1864 earlier for a gain of 40 points.

Also closed March L/T trade for a gain just shy of 10%.