It's good to have straight forward market for a change.
I set some levels, the top one was 1150, S&P pulled back to 1155 and then ran back up.
It's also nice to have NDX doing OK as well
So far, nothing but the usual stuff after a breakout. One nagging concern is momentum divergences we can see on 60-min and daily frames.
Intraday breadth was good all day, I need to see if that has made any significant difference in the overall breadth picture.
I can raise my top level to 1154 now if I want to have my stops tight
I will have a detailed post over the weekend.
Have a Wonderful Friday!
S&P 500 – May 15, 2012 - Bottom Line: Long term trend is up. Mid-term trend is down. Short-term trend is down Weekly S&P stage is Late Advance (2-C) Daily S&P stage is Strong Decli...
1 year ago