Sep 10, 2013


The last resistance was reached. SP500 is now in a zone where both scenarios bullish green and bearish red are possible. No bearish signs, the signals are up so we must respect the price action that is why the bullish outcome is the preferred scenario. For those of you who followed the signals to the long side congratulations:) it was too choppy for me to go long... well I was wrong.
Short term it looks overbought. Logical move will be a pause to the previous resistance level around 1660 where the both trend lines and MA 50 on the daily and hourly charts will be tested.

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