SPX one minute chart for today shows the importance of prior day's LOD and HOD, today it was the LOD from yesterday of 1326.90. The SPX tapped it after the open and recovered, then fell down thru it in the 10 o'clock hour. SPX regained that level so today the 1326.90 has to be watched closely. Typically, when the SPX takes out either the prior day's LOD or HOD, the move will accelerate a few handles in that direction.
Today it was odd that it moved back up thru after it had failed so we'll see if the SPX comes back down to test 1326.90 again. The gaps are highlighted in the neon green, the large gap after 10 AM was filled but a gap remains at 1329.3, SPX would not have to fill this gap today, it could come back up in the future, or, it may very well fill it here and now.
Price reached the same level but all the indicators were weaker, negative divergence, so she should go down a bit for a test of 1326.90 again. Lots of gaps were left on this move upwards. This information is for educational and entertainment purposes only--do not invest based on anything you read or view here or any links connected to this information. Consult your finanical advisor before making any investment decision.
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