SPX 3 Minute Fib Retrace Levels noted on chart. SPX may be
in process of forming a RS (of a HS top formation). Under this
view, the left shoulder was quite choppy. Simply put, respect you
triggers. Short term range 1688-1700. Bullish view would be
to watch for a smaller IHS to form.
The prevailing short term range is 1685-1710. Should the SPX
break 1685, we'll have to see the nature of the move down and if
any divergence can form. A failure to form divergence would point
to more immediate downside.
SPX Intraday Views
Posted by steve on 8th of Aug 2013 at 11:38 am
$SPX - Chart Link
$SPX - Chart Link
$SPX - Chart Link
$SPX - Chart Link
SPX 3 Minute Fib Retrace Levels noted on chart. SPX may be in process of forming a RS (of a HS top formation). Under this view, the left shoulder was quite choppy. Simply put, respect you triggers. Short term range 1688-1700. Bullish view would be to watch for a smaller IHS to form.
The prevailing short term range is 1685-1710. Should the SPX break 1685, we'll have to see the nature of the move down and if any divergence can form. A failure to form divergence would point to more immediate downside.
SDS
Posted by hawkinslf on 8th of Aug 2013 at 02:06 pm
I am wondering if it might be time to buy some SDS to hedge my long positions. Any ideas?
Market still holding up ok
Posted by steve on 8th of Aug 2013 at 12:34 pm
Market still holding up ok as this bounce has yet to show any weakness.
U.S. Dollar looking pretty darn
Posted by smoothy on 8th of Aug 2013 at 12:30 pm
U.S. Dollar looking pretty darn bearish here Steve