Wednesday July 19

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SPX - Going long the break out is still working with a loose trailing stop, after this long sideways consolidation. The SPX held the 50sma in the recent drop.

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Just Take A Look

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For more than a month now, following weeks of choppiness and sell offs,  I've been pointing out some nice set ups in various sectors. We are now seeing decent trades and some follow through, so today I want to point out an area that I think we all should take a look at...

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JULY 16 WEEKEND REPORT

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SPX - When we gapped up over that trend line  ( Again, see April)  and held above the 50sma, it was obvious that the bull market remains in tact.  The SPX also experienced follow through last week.  I'm not saying that we will drop soon, but that last Gap in April was filled at the next dcl as a back test of the break out.  If we get more sideways movement than upward ,  that may be what is happening.

SPX WEEKLY -  Bullish, though extremely overbought.

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