After and most exuberant rally, the S&P finally did break down from its rising support line.
There is a but though, BUT..... you have to understand we are in a holiday reversal mode. What does that mean?
Well in layman's terms, most bigger traders from Wednesday unwind their large positions before the three day weekend, so they can have fun, and take their mistresses to the Hampton for a few days. *winks*
I explain more (about holiday reversals) in our VIP members section CLICK HERE To Learn more!
I was surprised how well the day finished. As you can see, went sold off hard, but finished the day with the bulls who came back hard and we closed the day at 1650. We are in a resilient market.
The McClellan Oscilator has sold off back down to the -40 level, and at an area previously were we saw more buying come in. So next week will be interesting, especially later on in the week when the big money comes back into the market.
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