1:55 - well, we know the support line is right. Now forming ascending triangle. Can't believe that RS did not break down with all those divergences working for it.
12:33 - SPX double top HnS? Target 92.
10:20 - SPX triangle - I may not short till the lower support diagonal cracks. This is the triangle that is trying to break out now.
SPX - Looks like a classic rollover set up to me. I have seen these back in April that were very frustrating to bears as they simply prolonged the inevitable. I'm thinking ABC back to the 80 level. (might have to broaden that range to 90 /75).
Minis Daily - This is just a clean chart for you to take a look at. Blue channel with price testing the upper channel resistance. The dashed line runs from the top in '07 across the top in April, thus making it the new bear market resistance line. Yellow are support and resistance and define the predominant range price has been in since late May. Volume is horrific and volume yesterday was off the charts low. Indicators still have room to run here. The weakening and diverging RSI, falling MACD hist and the S Sto possibly nearing a bear cross all fit well with price meeting resistance at the upper channel line. Sadly, that channel line may need some help if it is going to hold. The 30m charts may be coming to the rescue here.
