I was chatting to another fellow with an interest in the markets...

I was chatting to another fellow with an interest in the markets last night, and explaining that I was bullish on a wider scale, but short term bearish in Europe, which I was mostly trading to the down side, but counter trend trading last night, and happily picking up a couple of longs here on the local market.

I fear I was not making a whole heap of sense, so here is the SPX chart. Things are at the borderline on the SP500 as far as I am concerned, and until the green support tine gets broken, I remain optimistic.

Because I primarily have a reversal style of trading, this is where I go long, and if it works out to be the incorrect decision in hindsight (when the lines get broken), I will cop the loss, change sides, and go all bearish. But for the moment this is the correct entry point for me, because I am seeing signs of support on the green support tine.

SPX 15m