lowtrade

[lowtrade]

$SPX chart update. Since the chart, the price has run 1.3%, not retraced as TA & Charting signaled. Making my evaluation incorrect. But the technical's maintain a negative bias.

IMO caution should be in the back of one's mind. That 1.3% climb has created 3 new gaps below. Add that the ADX line is still well below the 15 level, a strong move is still in the back ground. So any expected retrace could be large.

IMO the odds are against the exuberance of trying to break top resistance for a new high. Watch out the minute any new high starts to retrace. One's portfolio could suffer an all boats effect.

Just some food for thought. When everyone (talking heads/buyers)are positive, with the technical's remaining negative. Surprise often occurs.