Last take a quick look at last week’s action in the S&P 500. After having that furious v-bottom rally the past two months the index ran into a strong resistance level and was met with rejection.
Third time not a charm
If you look at the chart in this post you will see that the 2810 area on SPX is a strong resistance point since late October as price was turned down after rallying to it multiple times.
Thus, it is not a surprise that after a large move higher the index ran out of gas at this level. After a sell of
S&P 500 Floating in the Middle after Failing at Resistance
March 11, 2019
Published by timm
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