Market Diary

Today's Market action seems like a "direction changer" action. In my trading system last Buy signal triggered on 7/15 and today I got the sell signal in daily action chart. My near term lower range is 950

1060 is the 61.8 % retracement in $SPX from top to bottom. expecting 1060 could be a resistance, we can expect IF IF 1020 broke UP... !! In this point anyway UP level is limited.. tighten all the stops..

I am expecting a good correction until first week of Sep. If market didn't correct, It will be very hard to go UP.. It will chop sideways.. [ Sep -Nov] is not good months for sideways strategy as well. I strongly recommend , wait for correction to add new bullish positions. If you have a bullish position tighten your stops !!

After 21 long tranding days chart is showing a red candle in Heikin-Ashi candle chart. William % R is slowing down to -15 area. There are chance to retest 102 level in spy when william R % hit in -20 area..

VIX range is shrinking to 22-26 range. Last year around Aug Sep time also VIX range shrink to 18-22 range and exploded. Is this "The Calm before the Storm" ?

William % R is slowing down in Spider.. New range of the spider is 102-96

I am back from my vacation. Last couple of weeks I couldn't able to post anything even if I am trading. I am thinking Market will retest 950, If 950 holds , market will re test 1000 again and go down. I plotted a mirror chart in green .. Market is following red line right now.