A Late Posting

Just when intraday volatility seemed to be rising along comes a quiet “inside” day on the cash S&P500. Once again this price action has done little to change the price pulse picture presented Friday. The bulls need to hold 1083.74 since a break of that level could start a cascade down.

Note the horizontal dashed cyan line at 1113.86. This is where the sequential stop-loss would be if the setup had not been recycled. I find it interesting that we are struggling to close above it and have not been able to do so for a full month since sequential bar 13 of November 9. I will continue to watch to see whether this line gets broken before 1083.74.

Note: This blog will slowly be changing its format over the coming months. Since I am focused on longer-term positions it seems to make more sense to look at the different markets and time frames than solely the cash S&P500. Watch for more of this same kind of technical work on the dollar index, world gold index, CRB and 10 year bond yield.

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