Yesterdays post talked about the necessary pull back the market needs to have. Healthy sustainability in a trend needs to have higher lows and higher highs, and we are now waiting for a higher low. This is very basic chart analysis, but the important thing to remember is how today's bar closes. If the bar closes as a shooting star that could be our reversal signal and the start of our pull back. This could also be the start of some consolidation sideways action, but it seems that momentum is slowing a little.
Below is a chart of the $SPX
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