Today / Tomorrow in the S&P-500

Tuesday 8-12-2008 it would be too obvious to say that we had a a move to the downside today, but we did coming within two points of testing the T-Line.  Notice from the chart below, that we are trading in a channel to the upside.  With obvious higher highs and lower lows.  Also keep in mind that today’s candle was not a Candlestick reversal candle.

Wednesday 8-13 with today’s down day, but closing above the T-Line and 34 EMA and the T-Line trading above the 34 EMA.  I will have to stay Cautiously Bullish until I see trading below the T-Line and a swing high sell signal.

Good Trading  and always Trade For Profit
See you all in the Trading Room
Rick