I will not be trading tomorrow however - here is my take. The S&P's have broken above a 6 day Balance and settled above it. Looking at the profiles suggests that the market is too long - as the POC did not rise as the market rallied up in the afternoon. Your short term reference for the morning is the Spike - the base of the Spike - 1465 is support. The next reference above is 1474 area - which co-relates to the highs from 2008. Also - watch the S&P cash Index as the 2012 highs were 1474.5.
The first sign of change will be acceptance back below 1463 - prior Balance High.
The first sign of change will be acceptance back below 1463 - prior Balance High.
No comments:
Post a Comment