SPX is in the process of multiple attempts to break Supply Line in the area of 1055. Watching the paint dry is “nottin” compared to today’s market action.
Note of interest – (SPX) Daily Range projections for tomorrow setting very narrow range, but what is even more interesting – corresponding Upper Tolerance line moved almost all the way to the top of the range. Coupled with today’s possible doji that might present interesting short setup. Patience is the key. If not for few “leaders” today (such as (GOOG), (GS)), market would be in the red – if majority of stocks are lagging and only leaders continue to go up on “institutional interest” – that is a very troubling sign for the stock market.
