After the FOMC spike, the index failed to make a new high, and has be sold ever since retracing all of the FOMC gains and more. Notice in the red box how the relief rallies were meek and sold aggressively, suggesting bears are happy to sell higher and are in control short term.
I'll look for a corrective rally towards 1712 to form an LH (lower high). If it does, then I'll look to sell here, targeting 1695 and 1680
I'll look for a corrective rally towards 1712 to form an LH (lower high). If it does, then I'll look to sell here, targeting 1695 and 1680