The SPX had a good day today, finally making a higher high which increases the odds that we are indeed in a "D" wave higher. At the close we were up by $21.81 at the $2664.00 level and this mornings gap remains unfilled. This up wave since the $2553.80 low has been very corrective looking and just does not channel very well.
We finally closed above the 20 day MA, it has been close to a full month since the SPX has done this. The next level of resistance would be the upper Bollinger band which closed at the $2752.87 level. Indicators are now back towards buys and the Bollinger bands continue to tighten!!
No comments:
Post a Comment