Post Yellen Update
For obvious reasons I wanted to wait out the FOMC announcement whipsaw but now it’s getting pretty late over here in Spain and I’ll have to limit this update to two charts. First there’s the Zero which started to paint a positive divergence today:
Starting to look more positive but we still need to see a 1.0+ signal on the Zero Light (right panel). But looking supportive as of right now and this could drive higher into the close. Which brings me to my second chart:
The SPX cash is painting an RTV-L right now and it’s actually a pretty nice one. The long trigger is 1885 – I’ll take this one near the EOD with a stop below today’s lows. Once again only 1/2R and I’ll build it up as she goes. That’s it – see you guys tomorrow.
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