SPX levels and plan

4 thg 8, 2014Recently, i posted chart where I mentioned that i am not going to be too bearish untill break down og this intermidiate trend line. You need to be prepared for different scenarios with stocks that are on your long/short watch list. When this scenario came into play, plenty of short opportunities emerged (check some of them in the link below). I still don't think that this 2 days selloff is the end of the world. If bears want to keep control, they should defend $1,937 (important), then we have resistance zone a t$1,949-56.

I will be watching for tactical pullback, as it feels a bit oversold here, trading with stock that show us relative strength. Then short opportunities ("h"-pattern) on pullbacks from resistance zone and moving averages.