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Published on Oct 3, 2016
The
S&P 500 fell during the day on Monday as we returned from the
weekend. However, you can still make an argument for an uptrend line
just below, so this point in time I feel that the buyers will return
sooner rather than later. There is a lot of noise just below, and I
think that there are so many noisy and supportive areas between here and
the 2120 level that it’s almost impossible to sell this market. With
that being the case, I am waiting for supportive candles in order to
start buying, and would even consider short-term charts in order to do
so. This is a market that will continue to chop back and forth but with
an obvious upward bias as far as I can see.
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