I'm back and I am turning Bullish (as I have stated since January that I am Bullish long-term). Over the last couple of months the Market (the S&P) has peaked, corrected, moved back to its peak and now appears to be pulling back (moving lower); thus setting itself up for a big move. I believe that this retracement has either "hit bottom" or may still "bottom out" at 1289.00 to 1295.25.

1. The Market’s pull-back traded at one of my Trading Levels which is 1300.
2. The RSI (Relative Strength Indicator) is still weaker than I like but should start improving.
3. The new Earnings Season is upon us. Look for good guidance earnings projection to drive this Market higher.
4. Volume needs to pick up (it is starting to).

Here’s my Intermediate term Trading Levels:

1336.50
1314.00
1300.25 (Important Level)
1289.00 (Important Level)
1277.75 (Important Level)
1263.75
1241.25

Here’s my short term Trading Levels:

1336.00
1326.25
1320.50 (Important Level)
1315.75 (Important Level)
1310.75 (Important Level)
1305.00
1295.25

Updated Trading Points:
All Intermediate term Trading Points have been Hit

Click on image to enlarge!

Have a Profitable Day Trading!

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