SPX/SPY Posted on Monday 29th
Here we are again. I mention before we would have a small pull back then a much back up to retest the 1600 level. We are 7 points away. 1593.61. Heavy resistance at this point. But some factors seem to be happening around the same time. Could this be a Coincidence? Could the bear market be around the corner Sell in May?
Things that make you go Hummmm!!!!
1) 1 day left in April
2) Close to 1600
3) RSI (60.48) almost at overbought levels. Could take 2-4 more up days to reach 70
4) Possible double market top
5) MCD bullish cross could tip the market higher then lower over in the 2-4 day range.