Of the last ten trading sessions, eight of them has resulted in the SPX finishing higher.
On the daily chart the SPRI is undoubtedly nearing extremes that could see this rally fizzle out in the short-term some time next week.
But now on the weekly you have a non-traditional upside reversal that took place, as we thought might happen last week.
What do I make of all this? Simply that I expect the easy money has been made in this market and we probably have another good week or so of trading to the upside before this market begins to stall out some or at the very least where its direction comes into question.
Most Popular Stories
- Top Hispanic Tech Companies Push for the Top
- 5 Notable Hispanic Technology Executives
- Russia, Crimea Discuss Referendum
- 'Holy grail of guitars' OM-45 Deluxe Available in in NY Auction
- California Establishes Center for Coffee Study
- Justin Bieber Loses Cool Over Selena Gomez
- Taco Bell Rings Up Breakfast Menu
- Maya Angelou Cancels Milagro Gala Appearance Due to Illness
- China Urges Malaysia Flight Emergency Response
- Spotify Picking up Echo Nest