Wednesday, September 16, 2015

Market Timing Update (9/16/15)

[EOD] Stocks -
SP500 delivered a marginal new rebound high, defeating a number of inside bars and breaking out upwards (Chart 1).

Moment of truth is approaching, with the Fed announcement tomorrow a likely trigger.

Is this a fake breakout suggested by price patterns (Chart 2 red & blue, Chart 3 red & gray) and overbought near term technicals?

Or Are new highs or a deeper rebound in sight (Chart 2 green, Chart 3 blue)?

[850am] ES update -