Hope about a rebound is turning faint.

Reviewing my Game Setting Tuesday

My Game Setting (If I don't mention overnight, day-trade understood)

I think the rebound if any may be short lived (2 days max) and would be limited by the resistant range 1209.4-1215.7. => Intraday only, too weak to keep a green at close.

Aggressive Bulls: If SPY sinks below 119.25, long at it's breaking up this level. Or long at SPY pop-up above 119.25. Keep overnight if Europe markets are green and 121-121.5 are distanced. Must sell at green Wednesday. => Good setting (+1), long 119.30, closed 119.90. Because no green in Europe seen, overnight exposure was not triggered.

Cautious Bulls: Long if SPY > 120.35  => Not triggered.

Aggressive Bears: Short if SPY retraces downward from 121-121.5. => not triggered.

Cautious Bears: Short if SPY < 118.65. => SPY bounced back from intraday low 118.52. Poor setting (-1).

My integrated score from Nov 21, 2011: +1+1-1 = +1

1. EURUSD daily seems in indecision mode and framed by 1.3407 - 13567. However this candlestick count from last 8 may be very bearish: 2 selloff, 2 indecision - Doji, 3 bearish - Shooting Star.

2. SPY hourly seems to form a mini bearish channel at the lower boundary of the major one. May be bears will try the Fib50 at 118.5 once more.

2'. SPX daily: The two consecutive days closed lower than MA50 are adding more bearish to the market's outlook.

3. My Game Setting
I had expected a rebound to pick up some profit and to be able to get into shorts at safer prices. However it seems that this scenario remains only in imagination.
Bears: Short if SPY < 118.5. Overnight if Europe markets are in red.
Bulls: Long if SPY > 120.35 and Europe markets are in green.


5:50 AM updates
EURUSD 1.3567 broken down, 1.3146 expected. Europe markets dive -0.4 -1.xx %. It's highly possible that bears will master the US markets today.

10:00 AM
The EURUSD shows that Bears will definitely be ambitious to win 1.3146 to finish a perfect Head & Shoulders Pattern.

11:54 AM
Europe markets dive -0.9x -1.5x %! My keeping the short overnight triggered. SPY may target the Fib61.8@115.8 the next trading day.

12:15 PM
May be 116.71 is today's low. Seems some Bears are booking profit and some Bulls try to put a toe in water.