No Change in the Weekly and Monthly Trend - the trend is UP. As of Friday, The S&Ps have come into a 4-day balance. Notice the trade location - we are within 8 handles of the April Highs i.e the 1411 area. From
this 4-day balance the S&P's may revert to the original trend which is UP or begin a new trend in the
opposite direction i.e down.The caution is that this entire rally has been on positive news from Centrals Bankers around the world that they will do anything to preserve the markets/economies from falling apart.
Friday's late afternoon Spike is our best reference for Monday. The Trading question is whether we Open in or out of Balance relative to the Spike. The bottom of the Spike - 1399 is Support. Opening and trading above the spike reveals a breakout from balance.
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