Friday, July 31, 2015
S&P Futures 1hr
S&P futures are grinding higher but doing so on declining momentum as seen by the bearish divergence on the RSI. It's now flirting with the 78% retracement, which is not uncommon for second waves to do, they tend to be sharp and deep affairs. However, that's the maximum allowable area I'll give it. The bears will need to wake up and attack this market early next week for this wave count to remain on track.
PLEASE NOTE: THIS IS JUST AN ANALYSIS BLOG AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. THE DATA HERE IS MERELY AN EXPRESSED OPINION. TRADE AT YOUR OWN RISK.