Well we got the "POP UP" and some decline, but not a steady one yet. As far as the end of the month week the forecast is pretty much the same. Am expanding the range a little, and don't forget there is the "waaayyy" outside chance of SPX 1400 as a top.
The charts below indicate the different levels of Sup/Res and the slowly declining strength of the SPX.
As stated several times, think we are in a range, 1245 -1325, that defines the current market. Several charts suggest a strong consolidation is underway and time is getting close to some resolution. What it is, only time will tell but the "hint" is a pop up then a steady decline.
I have a lot of conflicting indicators for short and long term trends. The one that seems to foretell movement the most reliable is the 5eVXO, and it suggests a rollover very soon. I still have a trading range of 1325/45 to the up and 1225 and more down, if various supports fail over time.
Comments welcome
