SPX looking to pull back after July 4th Weekend.

4 Jul 2016

Hi, this is my first published chart on the site. Keeping it simple this is what I'm seeing after the last brexit week recovery. To me it looks as though there is enough information to warrant the creation of a new downtrend channel based on the lower highs after 6/8/16. I don't know if SPX/ us markets will open higher on july 5, but I currently think a market pullback will be the next move. Good luck and any comments and feedback are appreciated.

7 Jul 2016

Catatan

Update 7/716 end of day... spx bounced off the upper trendline again today... I think we are still in downtrend, although friday morning might be all over the place with june jobs data. as long as we don't blast through 2109 and stay above it to close.... I still think spx is pulling back.

8 Jul 2016

Catatan

well looks like the downtrend is toast... getting ready to close my vxx trade... ouch.