Market Comments for 4.8.19

SP00s (pre-opening comments) – the SP00s start the day with some weakness, and it may be they don’t have the strength to gap over the ~2900 resistance zone, but will need a pullback first…

The momentum indicator line is also on the verge of dropping through its UTL, so there could be a SAR reversal today…

For now, my SAR swing system remains long from 2818… watching.

 

 

 

SP00s (post-closing comments) – I apologize for my absence today, but because some follow my work and positions, I needed to lay low, so the market could make its will known more clearly…

At the 10:00 am bar on the 240-min chart, the momentum indicator line fell below its UTL and the DTL from the ATHs, and if the SP00s had remained at those levels until the 2:00 pm bar, there would have been a SAR reversal signal generated…

However, that was not the case today, as the SP00s did recover, and by noon, the momentum indicator line was back above the DTL, and by the close of the regular trading session, the momentum indicator line was back above its UTL…

At the close of regular trading session, my SAR swing system remains long from 2818… watching.

 

 

 

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