Market Timing - posted at 1535 EST
Swing trade - 100% long positions; stop for all positions to SPX 1290.
Investor core - 100% long positions; stop for all positions to SPX 1290.
When the expected low off 5 moves downward actually is a high, the probability of seeing lower lows is rare. We should move considerably higher into the close. To be sure of higher prices this afternoon, SPX 1304 must be overtaken.
Gaps at SPX 1296, 1295 and 1293.50 are still open. The most important is the SPX 1293.5 opening gap yesterday. The SPX may be poised to retrace to cover those gaps. Gaps are like a structural defect in a new auto. They don't go far without repairs.
Without exceeding SPX 1304 so far, tomorrow may not be a day for much progress either
Look at the Dow 30 and a different picture can be viewed. Only the Dow 30 has made a lower low today - so far.
More at 1730 EST.
Good Trading and God bless
W. B. Busin
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