I mentioned previously that the down-gaps on the S&P had filled in. I also mentioned that there seemed to be resistance at around 4180.
Well, the market blew through that resistance line and climbed all the way to the 200-day moving average. It stopped there and is on the verge of a pullback, maybe.
RSI is at 68 and MACD is at 92, so the oscillators are signaling that the market is overbought. Anything could happen, but I'm expecting a pullback, at least to about 4100 or so. That would be close to a Fibonacci line, I think.
Disclaimer: I'm not an expert at this stuff, and you certainly shouldn't make any decisions based on what some guy posts on a blog. This is for entertainment purposes only.
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