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Tuesday, August 31, 2010 6:42:53 AM
Tuesday - hold short - 1055 SPX watch
Still below the 320 SMA on the daily, markets are in-sync, so the long side of the trade offers little happiness. The trend is your friend, which is on the short side with the daily ABC down target is 1007 SPX. Given the TOM, we could be in a consolidation day, with a possible right shoulder head and shoulder formation.
Still below the 320 SMA on the daily, markets are in-sync, so the long side of the trade offers little happiness. The trend is your friend, which is on the short side with the daily ABC down target is 1007 SPX. Given the TOM, we could be in a consolidation day, with a possible right shoulder head and shoulder formation.
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