We have broken the supporting trend line. Looking for the following support lines, 909.75,
then 904.75 with major support to 899.50. We have to get to 894.50 and below to break away from the support.
Watch out for the invisible hand. Fed dollars come pouring in at the EOD.
The decision point, 200 EMA the weighted moving average. We are in a consolidated pattern here for 9 days. The technical signal that was used for a change in direction and confirmation was the 200 Moving Average. This was an institutional traders key to seeing directional change in the long term. When the price was…
looks like we still have a bit of indecision. Looking for a break out over 959 to new highs or a break of 943 support. We are hemmed in here. The invisible hand is holding this market high enough that confidence is coming back into the system.
It looks like this can really go wrong if inflation hits and that is what bond prices are showing.
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