The little H&S pattern failed and now we are seeing lower lows. It's hard to find a positive in this market and now we are back to seeing if the bulls are ready to defend the 1180 SPX area or not. It's a rather critical stand. My support line comes in right now at 1178 which is slightly lower than yesterday's low. It appears now that there will be trades back to that area and I'm looking to find some more shorting on the next bounce to prepare for that likelihood.
The Daily Dose of Trading Comments
Here you'll find short quips concerning the market mood and direction posted intra-day as the market dictates and time allows. You can find TATs strategy here. Comments here are from a trader who trades for a living.
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