S&P 500

Today's MARKET STATE S&P 500 **BULL TREND DIGESTION**

- Technically the MKT is in a DIGESTIVE BULL TREND with a slight positive tone. The underlying tone is positive but opportunity is on both sides of the MKT today.
- On the SELL side accept FADE and REVERSAL signals at the UP and +c only. The underlying momentum is up, so keep position management and profit targets aggressive on any counter trend trades. Avoid DP BREAKOUT strategies as follow through in either direction is not expected.
- On the BUY side accept FADE and REVERSAL strategies off the DP with the expectation that any test may need to build a base before it can mount a sustained positive push. UP BREAKOUT strategies should be used as a signal for a "pullback" BUY DIR FADE strategy.

Today's PRICE MAP Performance for SP

Wrap Up

Today the S&P 500 was in one of JS Services unique SIGNATURE STATES, BULL TREND DIGESTION.  In this market state, opportunity exists on BOTH sides of the market as the market is "digesting" the previous move.  Sentiment remains + above the DP; however, the Critical Range extremes (UP-DP) both offer potential entry points for the session.  The UP is our expected area of major resistance and should mark the "lid" on any price advance if the digestive market state is going to play out.  As it so happened, the RSI was showing a slight divergence with price, offering a "tell" to accept the SELL UP FADE strategy at 9 am CT from our resistance level.  The mark sold off immediately down to the DIR, giving traders an opportunity to take profits on the counter-trend opportunity.