SPX has dropped 40 points in just a few days, satisfying the quick correction to 1000 I was looking for. The 7th 15-minute candle, after the failed higher high candle, provided a good exit for ETF shorts. Can’t get greedy.
980 is obvious support. I’m waiting for a clearer 60-min chart now for swings. Tough to say what will occur going into the holiday weekend.
We started our 7th monthly candle at last today. As the market drops, the 20 ma gets that much closer to 1050, and eventually getting tapped.
