Loading ...SPX UPDATE…
SPX 120 and 150 moving average provided support the past several months; recently, the 200 moving average provided support AND NOW THE 120 is providing RESISTANCE. What was support is now resistance…IMHO this market is rolling over…Also, note the last daily candle was a bearish doji right under the 120 MA…
SPXU-Inverse x3 SPX ETF
Note the 13/34 MA cross confirmation…Thus, the trend is now BEARISH for the SPX
For those who can watch the monitor may I suggest UVXY…The VIX has hit a bottom IMHO.
http://stockcharts.com/h-sc/ui?s=SPXU&p=D&yr=0&mn=6&dy=0&id=p62039465164&listNum=1&a=414781426
I am going to be in Montana flyfishing for the next 3 weeks. As a “tradeaholic” only one addiction is stronger–flyfishing. Thus, I will be away from the monitor. Good luck guys and gals! As always the “best action” always occurs when I am away from the computer.
I was just looking at my SPXS chart last night. I had not looked in a couple of months and had not touched these channel lines since perhaps March. Looking really bullish.
http://schrts.co/dMGJYd