The bulls are pushing hard. The utilities are higher with UTIL above 918.63 and NYA pops above 16716.50 providing upside oomph. It is all systems go for a relief rally. The only remaining hurdle is the SPX 10-mth MA at 4465. All the other bull boxes are checked for a sustainable rally, except 4465.
The HOD popped to 4467, then fell back, then price pops to 4469 minutes ago, but retreats again. The SPX is bumping its head up against the 4465 resistance ceiling. The SPX is at 4465 deciding to bounce, or die. The 5-minute chart shows the battle between the 10-mth MA at 4465 and the 12-mth MA, the cliff edge, at 4394.
Here comes the SPX for another try at a breakout. Bulls win big if they can keep the SPX above 4465 and heading higher. The bulls are not as strong as they look if they cannot get above 4465. If 4394 fails, there will be carnage. Watch the HOD at 4469.33 to see if the bulls can push up through. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.
Note Added 11:11 AM EST: The bulls and bears are in an exhausting sword duel on top of the castle walls. The SPX pops to 4470.20 the bulls believe they have won the game, but slip on a banana peel, and the SPX drops to the sticky 4465 deciding line. It must decide.
Note Added 11:26 AM EST: Whoopsies daisies. The NYA is slipping at the critical 16716.50. HO! WHOA! UTIL IS COLLAPSING DOWN TO 914.53 AND DROPPING LIKE A ROCK. SPX drops to 4459 rejected at the critical 10-mth MA at 4465. Dictator Putin must have picked his nose or coughed. Strange Days. NYA Rebounds.
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