S&P is trading and has closed above 765, which normally pushes the market upwards.
Therefore Wednesday's trading is simply about trading on the side of this level, and if that's the case there is less reason for Wednesday to move down, other than to have a higher Daily close"
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S&P Weekly and 5-day pattern
HOOK pattern over 765 sent the S&P into the Weekly highs and Monthly 50% level.
These levels have been a major resistance zones, so it will be interesting to see how the next two days unfold.
There is still a Primary Trend that favours a down in the 2nd Quarter, but there is still over 1 week of trading before the 2nd Quarter begins.
And a double Monthly low pattern, as was the case in March can send markets back towards their 3-month highs.
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