Update on my previous post. The S&P is still fighting with the resistance setup from 2009. Big pump at the end of today still did not change that. My guess, the big boys trying to suck in as much money as possible to try and pump S&P above this resistance. A 2-3% pump in something like 30 minutes was not driven by retail investors. Question is will retail jump in to get a breakout or will the big boys dump it by the end of the week? The setup looks pretty bullish to me, but need some kind of breakout to really make me choose to go more in or not.
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1W
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Thursday 10am
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Noon and sitting right on the trend line
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End trading on Thursday and it was clearly rejected from the trend line. Let's see what tomorrow brings.
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Maybe a bearish rising wedge forming?
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Friday 10:15am and S&P gapped right down out of the rising wedge
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Thursday Dec 23 and still respecting the line.
