Hello Everyone,
Quick comments: Another wild session today, with the indices trending lower all day and then a sharp bounce in after hours (trimming today's losses) following AMZN report. Earlier today I was targeting a move down on the SPX to around 4470-80 which I illustrated on the SPX 10 minute chart. That area was hit during the final 15 minutes of today's session and then the big bounce in after hours.
Keeping things simple the ES has resistance around 4530 for starters and bulls want to definitely hold above the 200 day MA on any further dips. One day at a time here.
Administrative Note: I had a follow up with my ENT doctor yesterday and I will be having surgery on my vocal cords next Tuesday and will not be able to even talk for at least 7 days. So please take note.
Note: Several previous ideas on watchlist remain valid but simply have not yet triggered so continue to re-examine each night. Consider making a fresh top 10-12 setups each night and put on front page along with existing trades. My advice is to keep your total ideas to a manageable number. Lastly, it's best to wait at times for valid setups to form - sometimes less is more.
Please take a moment to look at the trade ideas.
