Thursday, July 16, 2015

QUICK UPDATE: As the 4 hour and daily S&P 500 chart turns neutral, the 4 hour SPX is one bar away from the first sell test. The 4 hour SPX is on TD Sell Setup @8. To ‘perfect’ the setup on the 4 hour chart, the high of bar 9 needs to match or exceed bar 7’s high of 2114.14. Once recorded, there is a good chance the market will begin to test the downside since the completed TD Sell Setup records a 9 count under the 2125.10 TDST Resistance level. If the potential 9 bar is not able to hold 2106.57, we would need to wait for the next setup. Aggressive traders should follow the price flips and hope to catch a trend.

Screen Shot 2015-07-15 at 10.07.53 PM

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