Monday, August 12, 2013

ImageThe S&P 500 (SPX) made an incremental lower low but held the short duration TDST support between 1682.42 – 1683.77.  For the upside, most market watchers have 1700 as the resistance level. For TD Sequential purposes, the resistance is 1697.50 in accordance to a bullish price flip on the 4 hour chart. ImageFor the daily chart, a close today above SPX 1697.37 will also record a bullish price flip which is similar to the 4 hour chart. There is also official confirmation of a Keltner/Bollinger band signal. This will act as a volatility spring that will be unleashed to the upside or downside. With this upside possibility now in the picture, market all time highs can be challenged if there is an upside catalyst. 


The bears need to start seizing the opportunity today or tomorrow at the latest or risk more parity with the bulls. Still neutral but tempted to start positioning short but I have no basis to do so at this point. Perhaps if the SPX can get up to the 1693 – 1697 range or some decisive downside TICK action to the -600 to the -800 area may motivate me. (updated intraday) 

This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s