The market was able to find some support around the key 50% retracement (from the recent bounce back).

As long as this level holds on, we remain comfortable with our 'abc' scenario (currently in 'c') and we stick with our view that the 1350 - 1360 area should be achievable in coming days.

Looking at our indicators, we can notice that the Sigma Trend Index (STI) moved from '-3' to '3'. (We need two consecutive closes in positive territory in order to confirm an uptrend).

But, today, the most positive indicator was the Swing, moving from '2' to '4' (on a scale from 1 to 5, 5 is best).

Looking at our Breadth Index, we can notice that this indicator is also in positive territory (red line):

Conclusion:

Our scenario is unchanged, here is our updated chart based on the Sigma Whole Market Index (Aggregate of 16 US indexes):

For those of you interested in our intraday move, you can visit our site: we post all our trade in real time. We also created a twitter account (@SigmaTradingOsc), so you are updated on our latest view/trades.

Current position: long @ 1307.77 (stop @ 1308)

Have a nice day,