The problem with trends is that they work till they don't. And this one is still chugging along while most of us are expecting a break.... any day now.....any day.
So, still waiting for a trend break. Bounced off bottom trendline, today making another attempt to break out from the 952 resistance - maybe this time it doesn't FAIL and bounces down from the midline at ~965.
Anyway, the bottom trendline at 932 is the one to watch for....
1 comment:
The real support points are the point of the last breakout / the resulting gap on S&P as well the 20 Day EMA which has acted as support all the way up. Both of these points are around 920. It doesn't feel like the market has any inclination to test these, unlike 880 and 825 before them.
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