SPX closed at 1093, one point from my daily line in the sand.

WOW, the the SPX closed right at 1093, just one point from my daily "line in the sand" for bullish vs. bearish.

Earlier today (see daily ramblings post below) I wrote that  "I remain bearish as long as ES is less than 1092 today". The SPX closed right near that level at 1093, so I'll wait until tomorrow to see how things develop. Today's action looked bullish, it was bullish, but the SPX still has a lower high in place. Tomorrow that might change.

There are still lots of bearish signals (the same ones mentioned in earlier posts below), but price, support, and resistance rule.


* ChristopherStockGuy is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. For details, see the post from SATURDAY, AUGUST 15, 2009 titled "Disclaimer".