Morning Gang!
I use today's chart to show you that spx now has closed below the 850 level for the first time on the weekly chart in 8 weeks. Are we coiling for a run? I'm on the defense and play by scalping and very little swing trades with tight stops. I need to see us get above the 850 level on a closing basis as well as the weekly swing chart will turn up at 849.65. Both would be constructive. CAT's numbers are bad so we should get a chance to buy the down open if the bullls are trying to make a stand. A trade above 836 that sticks would get me going on the day...below 820 and more important 805 the lows look more likely. Hit em hard. on the radar ERX, USO, GS, AEM
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