Right now the S&P is finding clear resistance to the up side. It was strongly rejected after vaccine rally and again on a second test. Testing that level again today. To me it looks like more sideways the next day or two before it chooses up or down. I think the obvious choice is down to fill those open gaps, but I would not eliminate another major drug company releasing results Monday (bandwagon time).
Hope it helps.
Hope it helps.
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Still fighting hard but its a tight squeeze.
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Look at this little breakout. Bulls are strong today or maybe it is a bit of a short squeeze for all the shorts that did not get blown out on Monday. Wonder what happens during the last 20 minutes of the day.
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Closed the day and thus the week above the major trend line, but just barely. I still think it was a victory for the Bulls. Closing above that line even a little is big deal.
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But closed a hair below the Sept high.
