Hi Shoppers,

I sure hope you’ve been paying attention.

Damn if I didn’t tell you where the support was!

We bounced right off my S&P 500 Emini Futures support by exactly $.25!!

Twenty five cents on a $6300 underlying!!

I am sorry, but that is pretty damn good.

Ok, I’ll stop patting myself on the back… wait one more… WOW!!

Here it is on the daily chart:

And wow, what a rally!

Is it real?

I say it is. And here’s four reasons why:

1. Monday’s candle is a change in trend Inverted Hammer calling for an end of the downtrend. We received the confirmation on Tuesday with the market trading higher.
2. The lows of Monday and Tuesday are almost the exact same price which is called a Tweezers Bottom.
3. We bounced off my support at $6359.75.
4. With Tuesday’s rally, we have moved back above the median line which will take us to the top of the channel (that so nicely coincides with the 200 day moving average) at $6664.75; my prediction for Thursday.

And there you have it!

Thank You For Reading… See You Next Tuesday,

Licia Leslie