Our forecast for today’s markets – published last night – stated “our Medium-term Models currently have a stop at 2760″. As of this writing (1:43pm EDT) S&P 500 Index regsitered the day’s low at 2760.16 with the E-mini Futures ES registering exactly 2760.
If the index breaches this level (2760), then our short-term intraday models would negate the bullish bias for the day and would stop trading from the long side.
As per the forecast, our Medium-term Models have updated the level at which they turn bearish and readers are encouraged to note that both the models do NOT indicate short selling at these levels. For details, please click here to read the full forecast.
Happy and Safe Investing/Trading!