The S&Ps continue to 1-timeframe higher on both a weekly and monthly basis. The all time highs made in Oct 2007 are within reach. Let's go directly to the Daily Bar -
Looking at the daily bars suggest that the trend is aging - the first clue is usually overlapping balance areas. Short term traders continue to push the market higher leaving poor structure behind. My focus for Tuesday is on the 2-Balance and whether the upside breakout level at 1469 will hold. Lets look at the Profiles next:
Fridays profile reveals several anomalies. Anomalies represent forcing action and are often revisited the following day. We also have a late day Spike - opening within the spike or higher is positive. Opening below the Spike is negative and targets Friday's low and the Gap. However, the two back to back poor lows and the prominent POC below lower the odds of upside continuation. Odds are that we test the breakout level again to see if buyers are still in control.
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