Wednesday, September 14, 2016

S&P Right now 9-14-16 at 11 something Eastern


UPDATE2!  It's right on the edge of going either way.  If I was forced to guess, I'd say down, but I am not forced to guess!  I will wait.

UPDATE!  I think I disagree with Mannarino.  This could be about to fall.  I absolutely have to be right, because I am crazy with 1-4 day expiration options on SPX!  So for the moment, no action for me.  I watched it fail to meet a buy criteria I had, and there is probably a reason it failed!  (because it's not going up)


I was actually long all morning, before bailing just now, even after being up considerably at one point. 
Weekly it's a sell, but indicating that it might turn around, with that green arrow down there.  Usually if you see the arrow by itself it is not at all a sign. 


I just posted a 30 minute chart, but it has changed since then.  It never got up to that dashed line like I'd hoped :( 

This has turned into a sell signal, if it closes at the current price.  There is still 10 minutes left for it to make that last bar look much better. 

If that happens, I'll probably go with Mannarino's instinct and buy back in. 

I just updated the chart, and I think there is a reasonable possibility that this most recent half hour will end up bullish.  Also some of the smaller time points are bullish.  This to me, just means watch it and see if those longer time frames are at a turning point.

Side note, I've been finding the half hour a bit more reliable than the 1 hour, but I don't have enough experience to conclude that definitively.








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