CurtisM

CurtisM

That's it. Gets to 1394 on a closing basis and that would have to be seen as bullish going forward. There is still a lot of work to do to establish a new up trend but such a break out would be an important factor.

CurtisM

We got a spinning top doji today and while it's just a candle for now, it could lead to a consolidation period over the next few sessions. That could mean a sideways to slightly up move for a while before the dominant down trend reasserts its authority.

CurtisM

Back in May, when the RSI dropped to 23, it looked as though that would have been a good time to go long. The market did rally for several days but then rolled over. The next time the market came down, the RSI did not drop as low and set up positive divergence. We may have to wait on something similar before this decline ends. Fib confluence/support zones are as...

CurtisM

Friday's shooting star doji remains in play as SPX has not yet closed below 1373.03, Friday's low. The 5,3,3 Sto is now as oversold as it ever gets and this has initiated bounces in the past. GL

CurtisM

I happen to believe that the market has topped out for the year, but the market will let me know soon enough if this assumption is correct. I also believe that the market is 1-3 days away from a bounce but that the bounce will fail long before $SPX reaches the resistance level at the 1434 area. The one thing that would change my mind would be a very strong...

CurtisM

Lots of traders wait for and then buy breakouts, which then lead to powerful moves. We could see this on $SPX before the close of trading this coming Friday. GL

CurtisM

Per what I call the 60min trading strategy, $SPX went deep into oversold territory Friday, June 1st. Evidence for this oversold condition comes from the fact that the RSI on the 60min chart has dropped below 30. In the past, including just a few days back and visible on the chart, when the RSI on the 60min chart drops below 30 there have been upward reactions....