Thursday's tradeS&P Index Cash CFD (USD)VANTAGE:SP500rsitradesHigher with the numbers and after open still looks likely but at that point it's an objective short entry. SOXX is already below strong support of 540 pre market, so any bounce to around 540-550 will probably get sold into. This would correspond with the SPY going higher before any selling. If they breakdown with the 8:30 numbers, expect a retest of the smaller wedge (red line) before more downside - but be cautious of a bear trap. They can fake a breakdown and go higher to squeeze out shorts. RSI still telling me we have one more move up.