FUGLY ACTION OVERSEAS HEADING INTO TUESDAY...

Thus far in the Asian session, things have only gotten worse. Now, the S&Ps are trading down over 30 points at 1935.50 – only a few precious points above the critical support (for the bulls) outlined here last night at 1931. Any 240-minute close below 1931 will spell very real trouble for anyone long of equities.

Short-term support:

  • Critical for the bulls to hold 1931

Resistance that must be conquered to turn me bullish short-term: 1992.75

Projected macro trend at this time: lower with possible 12 to 18 month targets of 1709 and/or 1448

Implications of outlook for investors: Use rallies like last week’s (and Monday’s mid-day ramp) to lighten up on stocks and get portfolio into more of a neutral to bearish posture.
Posted to Peak Analytics' Direction F… on Sep 01, 2015 — 12:09 AM

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Excellent advice these last turbulent months...
         
Wide stop loss and small at profit taking but that's their style.
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