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| S&P Futures Hourly |
The bulls stepped up at 1395 again today... and if you ignore the holiday close from yesterday, today was the 3rd close in a row under the 20day WMA (1406ish). It wasn't by much, but I still think it counts. Tomorrow should finally give us a heads up to whether a shift in control is under way. If the bulls step up and follow the recent pattern, we will see a solid close above 1406ish and the rally is most likely back on towards 1425ish. If the bears keep a lid on it and close below, I'll be looking for a move down to 1375. Either way, it will be nice to get away from the recent range.
Edit: I can't shake this image from my brain when looking at that hourly chart:
