All trends Daily, Weekly and Monthly remain UP. The 1461.75 level on the monthly is now support. On Friday, the S&Ps came within 3 ticks of the 1500 level - that remains the upside focus. If there is to be a correction or short term pull back - it will occur from these levels.
The first sign of a correction will be price and value building below Friday's pull back low at 1494. Both Thursday and Friday show poor lows - odds are that these get repaired this week. There is short-term support at the single prints - 1481.75. Price acceptance below 1481.75 targets the lower Gap at 1469.
No comments:
Post a Comment