fruitful friday, page-2

If you're short the SPX it's not oversold yet on the 4 hrly so probably has another day in it. It busted through the 4 hr 200ema and this is a very bearish signal; last time it convincingly closed below the 200 ema was back in the first week of June then we had the shallow one month retrace until that low in July. So a move back to 975 is possible or 50% range of the July low.

For the XJO a move back to 4550-4450 within three weeks will be very healthy for the markets I assume at this point. To recap slow stochs on the SPX 4 hrly not oversold yet, 200 EMA penetrated and has at least another day in it for the bears.