HI again. I normally do not post so much this close together but when things start happening, I like to post them. Today I was wondering if that breakout on the Small Cap would hold or follow through and it did not disappoint. Let’s take a look.
The gray bubble is what I heighlighted yesterday and today you can see we held and continued higher. This is a good sign for the markets. Not sure what is driving prices higher, but I will take it. Also notice the DMI at the bottom of the chart is spreading to the positive and is looking stronger as each day passes. So my next thought is what is the S&P 500 doing and is it following the Small Cap.
I’m going to answer that question by saying that yes, prices are rising. The only issue is that price has not broken through the upper resistance level and until that happens, nothing good can come of this market. $2193 is key and it must fall. The DMI is switching up but it is still a bit shakey. Time will tell and if we have a few more up days something will likely happen soon.
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