Running behind this morning so I will just update a few things here for the record First the $SPX chart and Bulls/Bears game plan.
I haven't changed the lines from yesterday where we mentioned the 1100 to 1105 area was heavy resistance. The bulls were never able to get over it even though they ran to it almost immediately on open. The bears forced the bulls back to close up the morning gap but could not drive much lower. I have added that opening gap from yesterday as a new resistance point to watch at round 1095.
Bull Game Plan: put the 1100 behind and get up and over the 1105 area. If they do fold they need to hold that 1076 area and begin building a nice right inverse shoulder here.
Bear Game Plan: continue to defend 1100 until the bulls are exhausted, drive the price action to below 1095 and force the bulls to clean up that gap from 2/16 around the 1076 area. A close below 1100 will be a win for the bears.
The three breadth chats all put in perfect bullish scores again today and gives us a +18
