MARKET UPDATE

As we were looking for, the SPX broke the 100 day moving average just a bit ago, the next thing we are looking for is the signs it's a head fake move and getting ready to move out of a base and to the bounce we have forecasted to start this week.

It takes a little time for signals to show the accumulation we need, but the initial signals are encouraging.

 DIA 1 min

 IWM 1 min leading positive

QQQ 1 min

SPY 1 min.

There will need to be a little bit of a reversal process just like any, likely in terms of hours rather than days and that is where we should see stronger confirmation.

If we do get some, I may enter some long / call positions to replace some of the long exposure I already took off.