Weak Support, Strong Resistance
The S&P closed higher for a second day. Some dovish Fed comments from the
Cleveland Fed President and lower T-note yields gave a boost to the Market. The
earning season is
Local Optima
S&P Holding Support
The S&P rallied today but got stuck at the same level I have been monitoring in
the last three days. The rally went from 4,465 to close at 4,520,
Marginal Movements in the Market
The S&P keeps moving sideways after it gapped down on Feb/03. There isn't yet a
good clue about the direction that the Market could take in the future.
Market Reality Check
Supports and resistances are great tools that allow us to study the price action
in depth. The S&P rallied from Jan/28 until Feb/02, that's four Market sessions
S&P Rally Derailed
In my posts during this week, especially in yesterday's post, I have been
warning about the quality of the rally and the signals that made me skeptical
about it, holding me