Outlook for equities 9/16

Folks, I'm not seeing a ChartsEdge map yet for today. Remember they generate them using VLF waves which do a remarkably good job of predicting trader mood. But their trading cycles forecast for this week pointed higher. That plus the Fibonacci and pivot situation, for equities and the falling dollar, has continued to propel equities higher despite apparently lower "mood". Might suggest what happens later, but we've got to focus on what's facing us now.

And that means the pivot of SPX 1060/1061, now that it tagged the 1053. Remember that Tony Caldaro's pivot have a play of + or - 7 points, so his 1061 can stretch to 1068. The SPX would have to make a daily swing high, and go under 1030, to start looking like sell signal, so obviously we're not likely to see that today.

So if position trading, you're not short, and if trading, you should be able to play to and away from 1053, 1058, and 1061 (maybe even 1068 if CNBC's "momentum moose" starts running, LOL). As always, be careful out there, and happy market navigating!