I have posted this proprietary indicator in the past: Red areas - selling zones. Green areas = buying opportunities. We are at the opposite end of the intermediate cycle up here.
SP - first close below 5 SMA after 7 closes above favors longs. However, it is also a 3 bar triangle, which is breakout mode. Breakout mode trumps retracement trades so keeping an open mind. CPI data might get the party going...
DOW is on the struggle bus today. Of course it did not get as oversold. Watching GE up here to see if weeklies put in a First Cross sell (lower high). (Weekly charts can take...well....weeks to unfold... ;-)
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