Friday saw a repeat of the SMA10 test, but this time SPX closed slightly below that support.
The futures are holding their cards close to the vest this morning, with ES off about 1 point. USDJPY is going mostly sideways…
…while CL — off 1.5% — continues to hint at a retreat to the .786 or .886.
We’re examined the timing of breaching important resistance many times over the years. If the past is any indication, SPX isn’t quite ready to make its next major move.
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