Signals & Trading Plan for Wednesday 8/21/19

Current market context
$SPX $NDX are currently in Major Pullback2 within the Up Trend that started on 12/26/18.  Major Pullback2 arrived on 7/31, with plenty of warnings from market internals.  

Within the current Major Pullback2, we have had 2 bounces due to oversold conditions.  The first was from 8/7 to 8/8. The second bounce was from last Thursday 8/15 to Monday 8/19.  By the end of Monday, oversold conditions were disappearing.  So today, prices pulled back by a small amount. 

However, for the most part, trading activities were subdued.  No one wants to take a heroic stance before FOMC minutes tomorrow Wednesday, and Fed Camp in Jackson Hole this coming Friday 8/23.  

The rest of this article covers:
Table of support and resistance levels
Updates from market internals
Planning your trades

Register your email here for full access to all our nightly analysis, trading plans and intraday updates. 
No credit card. 
All free.