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Today the Fed Minutes were released. Could you tell?
The SPX sold off and then recovered the 10sma.
Read MoreFed Minutes are released today. We have seen a few sideways moves in various sectors, maybe this will be a catalyst for a directional move.
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SPX - If you re not long or short, don't jump the gun. After a long consolidation, the move can be prolonged, and I have actually been expecting a dip into a dcl. I dont think that the early Aug dip on day 25 was enough.
Read MoreNot much has changed since the weekend report, and we are still seeing once semi-ugly charts becoming diamonds in the rough. Let's review...
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SPX - I personally took a long trade after calling the ICL in June ( And pointing out the 3 white soldiers very bullish pattern), I didn't stay long during the long sideways move started getting drawn out. I still expect a dip soon into a dcl, though this break out does have an occasional pop higher out of the sideways consolidation. I think you are looking at 1-2-3-4-5 completing for now. It may become a buy the dip in the future.
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