As anticipated (See my last post)
the S+P 500 Index has "broken out" above 4300 this morning, lead again by NDX
reaching a high of 4322.62, on "mucho short covering bets gone wrong"
before pulling back to the breakout point near 4300, as I write this.
It is very important now for the bulls to hold the breakout point.
I've drawn a green trend line across the 15 minute Chart,
showing you exactly where support needs to hold,
for the balance of the trading session today.
Any kind of "false breakout" failure above 4300
will be looked upon by the market as "strongly bearish,"
due to the "numerous "bearish technical indicators
that are "glaringly" diverging against the bullish price breakout.
SPX Noon Open 4297.17
THE_UNWIND
WOODS OF CONNECTICUT
the S+P 500 Index has "broken out" above 4300 this morning, lead again by NDX
reaching a high of 4322.62, on "mucho short covering bets gone wrong"
before pulling back to the breakout point near 4300, as I write this.
It is very important now for the bulls to hold the breakout point.
I've drawn a green trend line across the 15 minute Chart,
showing you exactly where support needs to hold,
for the balance of the trading session today.
Any kind of "false breakout" failure above 4300
will be looked upon by the market as "strongly bearish,"
due to the "numerous "bearish technical indicators
that are "glaringly" diverging against the bullish price breakout.
SPX Noon Open 4297.17
THE_UNWIND
WOODS OF CONNECTICUT