SPDR S&P 500 (SPY)

[denmo83]

Using OEX 520...

to split the difference in your drop range, that would put the SPX around 1132.

SPX1132 is no man's land. No support/resistance.

If 1148.47 breaks down, the lower rail of the intermediate term upchannel is down at 1122.91

Are you leaning closer to 525 or 515 on the OEX?

Using your full range would give the SPX a window from 1144 down to 1121.

That does fit a good window for both a probe to ES1142(SPX1146) or down to 1122, the lower rail of the intermediate term channel.

What I don't see as exact is to where good points are to open and close positions. Otherwise, I'd be guessing or going off gut instinct and we both know how long we'd last doing that.

I'm going to have to stick with SPX 1150.23 and SPX 1148.47 as my main points of interest.

Hold all longs above 1150.23 as all trends remain up. They're uptrends until they ain't.

No shorting in uptrends.