1083.74

Intraday volatility has certainly increased as evidenced by rare back-to-back “outside” days in the cash S&P500. This price action has done little to change the price pulse picture presented Friday. The bulls need 1083.74 to hold since my read of the pulses is that a break of that level could start a cascade down. Note that the medium moving average (dark blue) resides near this level.

Bottom Line: For those Longer-term traders/investors who are not already long I think risk is too high here to be long and so would sit tight. Anyone who is long should protect at 1083.74.

Technical Analysis of Chart positions for longer-term positions:
Dollar Index: Out. (0.65 point loss after 1 trade). Darn! Looks like I closed this long too early!
World Gold Index: Out since the 1161.80 close on 12/4.

Waiting for initial signals on the following charts: 10 yr Bond Yield,
Cash SP500 and the CRB Index