Thus far in the Asian session, things have only gotten worse. Now, the S&Ps are trading down over 30 points at 1935.50 – only a few precious points above the critical support (for the bulls) outlined here last night at 1931. Any 240-minute close below 1931 will spell very real trouble for anyone long of equities.

Short-term support:

  • Critical for the bulls to hold 1931

Resistance that must be conquered to turn me bullish short-term: 1992.75

Projected macro trend at this time: lower with possible 12 to 18 month targets of 1709 and/or 1448

Implications of outlook for investors: Use rallies like last week’s (and Monday’s mid-day ramp) to lighten up on stocks and get portfolio into more of a neutral to bearish posture.
Posted to Peak Analytics' Direction F… on Sep 01, 2015 — 12:09 AM

Recent free content from Peak Analytics & Consulting

Comments ({[comments.length]})
Sort By:
Loading Comments
No comments. Break the ice and be the first!
Error loading comments Click here to retry
No comments found matching this filter
Want to add a comment? Take me to the new comment box!

Reviews Average Rating          

Excellent advice these last turbulent months...
Wide stop loss and small at profit taking but that's their style.
See All Reviews →