$SPX 60 Minute: Price closed the week right on the middle pitchfork line. If we push a new low for this move down, around 1,250 we could set up for a bullish divergence on the MACD.
$SPX Daily: If the RSI needs to test over sold completely, price could fall below 1,250 and retest the down trend line around 1,230.
XLF: It still doesn't look like this has finished it's work lower. A little consolidation is usually a continuation sign.
My Watch List: It's quite comical to go through a period like the past few weeks, but I still don't come across much that excites me. That's probably because Mr. Market is stuck in a narrow range.
From My Trading Desk: No Trades on Friday.
Next Week's Game Plan: It's really the same story of waiting for Mr. Market to show us something new. Do we need another push lower or can we start to break higher. I still think we need to test that 1,230 to 1,250 zone. 1,311 is my all clear sign for now.
J.D. Rosendahl, Rosey