Will it cut the 1300 psychological barrier like a hot knife on butter and just keep going up or will we see some kind of pullback when/if it tests that important area from 1300 to 1307 (CASH)?
Click on the chart to see it bigger.
|SP500 Weekly Chart|
The same pattern is in play on SPY, let's see what "the boyz" want to do when we make this new high, I intend to start building a short position this week, but of course we might see it going much higher, remember, in this business, anything is possible.
Have a great week every one!