Signals & Trading Plan for Monday 8/5/19

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Here is an excerpt from our trading plan.

The overnight sell-off in futures brought all the support and resistance levels down further.  So we have updated the S/R levels in the table further below.

We don't recommend that you jump right in to trade the potential bounce discussed below.  It may still come, but tread very carefully.

The best setups right now are:

1. Enter short at Resistance1 & Resistance2 to ride Major Pullback2 all the way down to Support3.
2. Enter long at Support3 after market internals confirm that bullishness has returned under the hood.  This will get you in to ride Surge7 almost all the way.

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The rest of this article covers:
Updates from market internals 
Support and resistance levels for $SPX $NDX
How to approach your trades
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