No sooner had the S+P 500 "gapped up" this morning,
opening at 4442.87, and then quickly rising to 4458.30,
sellers came out in droves selling the breakout rally,
and just like that..poof...the S+P 500 broke back thru 4435,
and yesterdays buy signal evaporated like dust.
Hopefully, trader profits were taken,... while they were there this morning.
Remember your STOPS, as this mornings price reversal proves. Never trade without them !
Using SPX 4435, as a "long stop",
the trend now reverts to SHORT,until/if..the S+P can CLOSE ABOVE 4435 again.
Technically:
Pattern developing now has the new look of a potential Head and Shoulders Reversal Pattern
4 Hour KST Indicator remains on a Buy Signal,
for those who are willing to "Buy the Dip"
ahead of the Fed Chairmans Market Moving speech tomorrow morning.
1130 AM OPEN 4412.87
THE_UNWIND
WOODS OF CONNECTICUT
opening at 4442.87, and then quickly rising to 4458.30,
sellers came out in droves selling the breakout rally,
and just like that..poof...the S+P 500 broke back thru 4435,
and yesterdays buy signal evaporated like dust.
Hopefully, trader profits were taken,... while they were there this morning.
Remember your STOPS, as this mornings price reversal proves. Never trade without them !
Using SPX 4435, as a "long stop",
the trend now reverts to SHORT,until/if..the S+P can CLOSE ABOVE 4435 again.
Technically:
Pattern developing now has the new look of a potential Head and Shoulders Reversal Pattern
4 Hour KST Indicator remains on a Buy Signal,
for those who are willing to "Buy the Dip"
ahead of the Fed Chairmans Market Moving speech tomorrow morning.
1130 AM OPEN 4412.87
THE_UNWIND
WOODS OF CONNECTICUT