My last post was around SPX 1110 level - called for a drop ahead. Prices have broken down to the 1090 area since, and bounced right off support from the rising uptrendline from 5 Feb.
For today, expecting to claw up along the uptrendline towards major resistance at 1105. This action will unwind the short-term oversold condition. Then, another drop to 1080-85 area is possible where you see the lower uptrendline. If so, this would be somewhat similar to the Shanghai action from 5 months ago.
Very short-term bearish. Short-term, am neutral to mildly bullish, unless prices breach 1045. Overall, watch the top & bottom trendlines for clues, and have a plan B ready.
All the best folks!
For today, expecting to claw up along the uptrendline towards major resistance at 1105. This action will unwind the short-term oversold condition. Then, another drop to 1080-85 area is possible where you see the lower uptrendline. If so, this would be somewhat similar to the Shanghai action from 5 months ago.
Very short-term bearish. Short-term, am neutral to mildly bullish, unless prices breach 1045. Overall, watch the top & bottom trendlines for clues, and have a plan B ready.
All the best folks!
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2 comments:
Plan "B"!!! I am up to Q;7(F)iiiv
Hey thanks for dropping by - all three of you. ;)Sorry, don't quite get your coded plan B there. Is that somekinda chart notation?
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