The latest weekly bar on the cash S&P500 can be classified as “downtrending” and the low the week of January 25 is now defined as a price fractal. As you know one of the key items I have been watching for is whether or not this chart would generate a technical “buy” signal on the retest of the January 23 low. To even get into a position for the weekly chart to do that this week required an S&P close below 1325.19 on Friday. That didn’t happen.Within the constraints of my swing trading system I am now forced to sit in cash for at least another week. In this system there are only two options: equities or cash.
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