Member
Posted 01 December 2016 - 12:40 PM
It's pretty simple here. For a upside swing trade we need a breakout above 2214, which failed yesterday. For a swing downside move, we needed a break below 2198, which we got today.
I just shorted SPX 2196 with a STOP above 2204.1. Let's see if we can get the follow thru or will be it be another failed attempt on the downside.
Member
Posted 01 December 2016 - 12:50 PM
SPX has been trying to hold up, but I see it will get its turn for a big drop within a few days. Probably as soon as tomorrow...........
Edited by redfoliage2, 01 December 2016 - 12:56 PM.
Member
Posted 01 December 2016 - 12:56 PM
SPX has been trying to hold up, but I see it will get its turn for a big drop pretty soon. Probably as soon as tomorrow...........
It broke the 2198 pivot, retraced and failed. Setups don't get better than that. Now let's see if can get the follow thru...
Member
Posted 01 December 2016 - 05:01 PM
See the SPX MACD trends I have illustrated below. For years the MACD was confined to a megaphone, which was typical in the time frame for major indexes/stocks. This year, though it still may be in that larger trend, it has been trending between parallel declining lines as below. What will happen when it breaks out of this shorter trend? Perhaps it will head for the larger megaphone boundary.
Member
Mark S. Young
Posted 02 December 2016 - 01:58 PM
FWIW, we're short at 219375. Looking for 218375.
M
Mark S Young
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