Short Term Tragectory

[Relevant]

Earlier this month I posted charts supporting the longer term trajectory http://tspcenter.com/forums/viewtopic.php?f=9&t=12039 I hope this was useful to the seasonal and longer term position traders.

The following chart shows the short term trajectory of the stock market represented by the S&P 500. I hope this chart proves useful to the more aggressive traders.


http://tspadvantage.org/wp-content/uploads/2016/01/hourchart.png

Each vertical bar on this chart represents 1 hour of trading. The directional changes within the red & green diagonal range bars are moving too fast to execute IFT's to any advantage. We will need to see a decisive break of the upper green trend bar to suggest a trend change may be underway.

[Relevant]

The trend broke sharply to the upside this morning but hit resistance at 1900. If it can break and hold above 1900 the next resistance level is 1930.