Short Term Trading Member Forum

[stkboy1]

Nice drop in the market from the rising wedge that I mentioned last Friday, as most of the gains from the 28th have been wiped out. I think this is more than just backing and filling as it is moving down in a nice impulsive channel as opposed to the choppy grind up. Three days of woosh is not a normal corrective pullback IMO.
Possible H&S on the hourly SPX needs to be watched as a break of the neckline and the bulls will want exit their longs and play caboose, as we could be on our way to test the January 23 rd low.

Just a few more dollars need to be made and then I will be able to buy New Jersey.....vbg