The cash S&P500 is knocking on the door of another new high after yesterday’s up trending day. With that said there is not much to add to yesterday’s commentary. The chart, however, has been changed to reflect the new swing upwards (the orange line). It is of interest to note that each swing high and low has been successively higher since the July low. With the new swing up I have also added the Combo and Sequential counts off of the nine up into September 18.Please notice the dashed, cyan colored line on the chart at 1088.34. This is the risk level associated with the TD 9-13-9 signal of September 18. With price still below this level and momentum failing on all indicators (RSI, Composite, Derivative Oscillator) on both the daily and weekly time frames, I can‘t turn bullish here and remain steadfastly neutral.
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