All Trends - Weekly, Monthly and Daily are UP. As mentioned in yesterday's blog post - the expectation was higher highs and that is what we got today. However, Volume was extremely light, and the S&Ps showed considerable weakness all day - closing on the lows.
Looking at the profiles - shows Monday as a Balanced day - Value was higher and POC did not migrate lower during the afternoon sell off. We spent most of the time balancing in Friday's upper distribution. 1407 remains a key level - price acceptance below this level puts us back into the lower Balance area and targets Friday's low. Two back to back poor lows lower the odds of further upside continuation. If we do auction higher - there is strong overhead resistance at the 1417-18 level. Heavy news tomorrow and Wednesday - which will likely determine tone of the market.
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