SPX behaving as if the wave ii lower high was set last week. I suppose there is a small chance the bulls pull a rabbit out of the hat if they can rally hard while above 4437. I think it more likely that the early afternoon low is either all of or part of a third wave. I’m not convinced the third wave is over yet as I think it wouldn’t be too difficult to have 4437 or even 4422 tested later today. If the wave (III) low is set, resistance for wave (IV) is at 4461 and 4471.
Comments
No posts