Commence with Thanks to The Creator, The Ultimate Knower, for the knowledge and ability to help others.
I have been asked, if I would change the opinion from bearish to bullish, due to today’s market moves. My answer is No, not yet.
Financial Markets have been struggling to go higher than the resistance levels as set forth and elaborated in my posted charts. Today’s price action is referred to as “lost motion”. Markets are ruled by the Laws of Universe. I can explain it with an example of throwing a ball with a certain amount of force. You aim for a target point or distance. Most of the time, it shall go beyond that aimed destination or shall stop just short of meeting the objective target. S & P exhibited the similar pattern, it tried to slip away from the target resistance zone. However, it is ready to bounce back down.
THE MOST ACCURATE FORECASTING OF FINANCIAL MARKETS
http://trade-in-harmony.blogspot.com/