Monday evening

SP-500 Daily Chart

We closed above the 50 day simple moving average.  Some would say that is now support.  I say the 50 day has not been particularly relevant at any point on this chart.  I would point out that it appears we had a pullback to 1560ish and now we have made a higher high (early August) and now a higher low (late August.)  Volume has been better over the last 5 trading days (green too) than the preceding 20+ days.  If there is continued discussion of a way to avoid lobbing missiles at Syria we could continue the march higher and test 1700.

Monday afternoon

WLT Daily Chart (10:58 EDT)

The stock has completed the "W" pattern and the vertex of the W should now be support.  It you are not in this stock you may want to start and put your stop just below the horizontal support line.  The upside target is the 150 day simple moving average.  (Carter Worth calls it the smoothing mechanism.)  That could be more than 3 points to the upside with less than a point to the downside (the stop.)

Monday morning