S&P 500 - False Breakout?
It looks like the S&P 500 breakout a couple of weeks back has collapsed in on itself. We're back under the resistance zone and 2040 support.
I see three scenarios:
1. Equities are losing the upward pressure and we're heading lower over medium/long term
2. We're in a large range from 1800s to 2100s.
3. We're consolidating for push higher.
Time will tell. Trust the price action.
I see three scenarios:
1. Equities are losing the upward pressure and we're heading lower over medium/long term
2. We're in a large range from 1800s to 2100s.
3. We're consolidating for push higher.
Time will tell. Trust the price action.
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