Showing posts with label three day test of the high. Show all posts
Showing posts with label three day test of the high. Show all posts

Wednesday, September 10, 2014

SPX Turning Point

Three day test of the high in the works.  If we don't close above 2007.71 on the SP 500 today, this would be a failed three day test of the high and a major sell signal for me.

Right now, the sell signal is a short term one since it is made based on daily data.  Should the market decline on this signal, I would next be looking for a three week test of the high.  Should that fail, we would be starting a major move down. 

With this in mind, the market may try to stage a rally at the close.  Always have to be wary of the close as major volume enters the market in the final minute or so.

Friday, August 29, 2014

Three Day Test of High TODAY!!!

A potential short-term market top.  Should the SPY fail to set a higher high from the close two days ago, then that would be a short term sell signal for me.