I am trying the BOT Short Signal as of 1266 on the sp500. In my previous post I talked about the need for some type of bottoming tail on a multitude of time frames. We may start to create that bottoming tail by sometime this week.
Caution is advised on the long side for now. If I am wrong on this BOT Short signal then a close above yesterday’s high of 1276.17 will be the defining line. A close below 1251.48 would be a much better short signal, but I want to try to catch it a bit earlier.
But again if I am wrong then a close above 1276 may switch me back to the long signal again.