Above the channel highs @ 1316 and it continues up towards the breakout:- 1329/1331 Random resistance.
S&P Weekly and Daily rangeMarket has continued back towards 1329 and has stalled, with an intra-day reversal down of 8.5 points
As mentioned in the most recent Weekly report….
"Weekly support @ 1295 is simply a short-term counter trend move back to retest the breakout @ 1329.
If the market stalls @ 1329-31, and is once again trading below the Weekly 50% level, then traders need to keep an eye on the lower Weekly level @ 1304"
The Market did stall @ 1329, and it did reverse down 8.5 points to be trading below the Weekly 50% level.
However, Monday failed to remain below that level, and has instead remained above @ 1322.50 during cash market hours.
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