MARKET TEMPERAMENT –
Volatility signaled a move in the charts and confirmed in the early part of the day with failed resistance. The SPX spread expiring today 18 points wide around the 2700 strike leaving us 2718-2682 as traders faded price into daily support regions. Until we recover and hold 2726, bounces will be selling opportunities in the charts as we have a potential sea change afoot.
Our Metastock swing system confirms a short yesterday with the failure of 2717 (the first bounce into resistance). Crosscurrents are still evident so additions to short entries should be at bounce zones only.
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WEBINAR LINK LIVE FEED OF THE CHARTS BEGINNING AT 10 CENTRAL- technical events will have the live feed resuming on Monday
TODAY’S webinar recording
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