S&P 500 more sideways until next week, then a big move?

13 Kas 2020

Right now the S&P is finding clear resistance to the up side. It was strongly rejected after vaccine rally and again on a second test. Testing that level again today. To me it looks like more sideways the next day or two before it chooses up or down. I think the obvious choice is down to fill those open gaps, but I would not eliminate another major drug company releasing results Monday (bandwagon time).



Hope it helps.

13 Kas 2020

Not

Still fighting hard but its a tight squeeze.

13 Kas 2020

Not

Look at this little breakout. Bulls are strong today or maybe it is a bit of a short squeeze for all the shorts that did not get blown out on Monday. Wonder what happens during the last 20 minutes of the day.

13 Kas 2020

Not

13 Kas 2020

Not

Closed the day and thus the week above the major trend line, but just barely. I still think it was a victory for the Bulls. Closing above that line even a little is big deal.

13 Kas 2020

Not

But closed a hair below the Sept high.