Jeff Cooper thinks there could be a failure of the test of the 2789 recovery high and a trip back to the 200ma. Basically, the markets closed lower today after making a new intra and now we have to see whether the market will drop below the lower triangle line.
------ Jeff reviews the recent breakout in the SPX and introduces 2 of his favorite trading patterns. The Soup Nazi and the "Pinocchio." Jeff makes a bold call that today's failed test may ignite a move lower to the 200 sma!