Not going to go into this too deeply but as you can see, we made a higher high on Friday and are currently hitting resistance at the upper extremity of the zig zag channel. Price has also been consolidating in a riding wedge pattern, which could mean we could soon see a move to the downside.
It also appears that the inverse is happening with
DXY
where the price is finding support at the lower extremity of the zig zag channel.
That’s all I have to say at this point. We’ll see if the buyers show up tomorrow to push S&P higher but I’d be cautious about being bullish with this setup in play.
It also appears that the inverse is happening with
DXY
where the price is finding support at the lower extremity of the zig zag channel. That’s all I have to say at this point. We’ll see if the buyers show up tomorrow to push S&P higher but I’d be cautious about being bullish with this setup in play.