Tuesday, April 18, 2017

QUICK UPDATE: The S&P 500 (SPX) closed 20 handles higher which places the active TD Buy Setup in jeopardy as bullish price flips are close at hand. A close Tuesday above 2353.78 or even a close Wednesday above 2344.93 will neutralize the TD count. While there will be a bullish bias, all other possibilities remain open.

SPX - Daily.png

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2 Responses to Tuesday, April 18, 2017

  1. Gary says:

    Art, assume we’re still in buy setup mode. With a negative French election outcome this weekend a distinct possibility, one scenario is we reach a buy setup ‘9’ count above the TDST level, providing a quality buy entry point. Any thoughts?

    • Art says:

      Coming into the morning, the SPX TD Buy Setup is active @ 5. With SPX futures currently up 7, it would take a pretty solid selloff today to keep the TD Buy Setup going. Therefore unless we se a selloff below 2328.95 today, all the counts reset. If there is a negative outcome over the weekend, the TD counts would probably start off @1. More worthy of note is the Russell 2000. TDST Support there is at 1349.43 and it has already been tested twice.

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