The /es is +8 as I type and the bulls are not giving up without a fight.
We have made a series of lower highs and lower lows, so the bears are in control of the short-term direction.
I am on the fence as far as which way we will move in the coming days/weeks.
The bulls can’t break through resistance and the bears can’t break through support.
The technicals are neutral and there are no buy/sell signals.
So I have no problem watching from the sidelines for now.
Sometimes cash is the best position. -Gary Dean
SPX Hourly Technicals
Divergences: No Divergences
Resistance Pivots: R1-3820 R2-3830 R3-3850
Support Pivots: S1-3770 S2-3750 S3-3728
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