SPX - Daily Charts - PP Levels
Sideways move clear on this since February time. Effective range is 2040 - 2140. 100 Ticks. As per dax expecting somewhat of an up day just to take a breather.
We are above PP @ 2086 and attempting to breach 2104 - PP-R1. I think it may do.
However, the news and fundamentals looking grim. I appreciate most are technical here but beware of the dark side at the flip of a coin. Thus, will continue with short only bias. Would love to see SPX attempt 2120-30s again. Higher even. Will only short the rises. All limit sell orders 5/10 pips below the rises. Sooner or later it does/will tank.
UPS, oil, commodities, cutting back on output and employment numbers. These will feed into demand and confidence very soon. What goes around comes around.
Anything below 2040 should ring alarm bells for a breakout from this sideways range. Just don't see a breakout to the upside. In the absence of big moves, hugging the PP Level - red line.
Remember to pack parachutes and stops if going long :cheesy:
