Weekly and Daily highs is viewed as resistance with a possible reversal back towards 1098-1100"
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S&P Weekly and Daily range
As per Yesterday’s recap… "My view over the next 2-3 days is that there could be a consolidation pattern between the upper levels of 1112-1117 whilst remaining above 1099”
Today has seen the first day of the consolidation pattern with the early rise up into Weekly highs providing a minium reversal of 8.5 points, but without the complete reversal down towards 1100.
As pointed out in yesterday's recap.... the market has hit minor resistance levels whilst above 1099.
As long the market remains above 1099, there is still possible move towards 1027-35 as we come into the end of the week.
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