Fridays before a holiday weekend have a tradition of being very, very quiet. Today seems to be no exception. Unless something weird happens, we’re aiming for a close around 1323, up a few points.
I’ll take the next few hours and post a series of charts that illustrate the options going forward. Hopefully by the end of the day, we’ll have the semblance of a path forward — something I had hoped to post last night, but ran out of steam.
Stay tuned.
UPDATE: 2:45 PM
The little triangle broke down, meaning we’re looking at a potentially much broader/longer triangle that ranges from 1323 to 1302.50 as of today, and whose apex is around 1314.
I think it won’t get away from us today, though, as another RSI trend line (red, dashed) is just below and should provide support at the 1316 level.
Comments
3 responses to “Calm Before the Storm?”
Regarding the publishing of this post, I received a text but I did not receive and email.
…same here. Also, I don’t know it is intentional or not, but currently all content seems to still be accessible without a login…just fyi.
My bad. I was upgrading some widgets and inadvertently turned off some functions. Fixed now.