We had the impulse up so I would think we get a little more follow through today to reach the upper BB at about 4130. We've hit a weekly structural trendline but a day or two over it is no big deal if it breaks down next week. Also in the vicinity is the 50 weekly MA at 4135, so if the rally is going to stop anytime soon, that 4130 area (more or less) seems to be a prime choice for sellers to step in.
Good luck!
Good luck!
Nota
Note the reaction of spy at the 18ma yesterday, unfortunately I was away from my desk when it occurred. Daily BB is about 411. Nota
Index put/call is at 1.32 as of yesterday's reading ycharts.com/indicators/cboe_spx_put_call_ratioNota
IXIC - Nasdaq composite reaching it's weekly MA at 11431. It's slightly above right now, closing the week below may be a sign of a turn, worth watching into Friday Nota
down 1.4 percent on economic numbers pre market, look like the top is in for now. Support looks to be around 3920 Nota
3914 is weekly 18ma, I think it gets there by next week.
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