Wednesday, January 7, 2015

Quick Update: The S&P 500 (SPX) is now in the area where a bounce is probable, as judged by the 4 hour SPX chart. Read the Short Term Outlook for details. Note the weekly outlook on the SPX will turn bearish, since it crossed below 2002.33 today.


Switch to neutral if SPX closes above 2020.77

Screen Shot 2015-01-06 at 8.38.33 PMA bounce is probable now that a recorded 9 count TD Buy Setup has completed just above the TDST Support at 1991.75. If the buying lacks enthusiasm between tomorrow and the next few days, expect a transition to TD Buy Countdown. If so, the scope of the next bounce will be relegated towards TD Sequential on the daily SPX.

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