Ok, so I decided to go for a blogging system since I don’t have the time to run own server at the moment. This site will now have a much more simple approach but if there is anything that my old readers want me to post, please leave a comment. I’ll continue to post block trades, cycles and so on but I will not post any charts, levels and thoughts about other indexes nor stocks if not requested by you guys.
The above chart is SPX 1H and we can quite clearly see a 1-2-3-4-5 push lower. The rebound before close today was quite strong, much stronger than yesterday, and I guess bears covered shorts before close. So the obvious question is; are there bulls out there with more money to spend or do we need to rely completely on Ben & Co.?
Well, we could know the answer tomorrow. The red area is the first resistance for tomorrow. Above ~1410 is bullish and below favour the bears. Update coming in the morning if I have the time.
