Technically Speaking Update 3 – mytrbroadcast.com

Here’s the latest in my continuing series. It is of the S&P 500™ as of the close of the cash market on Wednesday. It is represented via one minute increments as to show the true machinations and reactions to the lines I’ve drawn. To wit:

As you can clearly see, from a technical and mechanical perspective, this “market” is doing nothing more than trying to break out above that gap fill. Until today, it was appearing it could not, but then did late in the day.

What happens from here may decide what happens for the rest of the year and beyond. For if it fails to hold that line and falling back lower?

Let’s just say the word “Merry” might not be what most feel.

As always, we shall see.

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