Yesterday, the markets were closed. Today, we had a shortened session. The markets closed at 1 pm ET. Many traders and investors were on holiday and not participating. Volume was weak, and price action was muted. We still have no resolution on the direction. The SPX is sitting right below its 200-day MA and slightly retreated from that zone today. None of what we see is bullish. We need bulls to step in and break this pattern. The VIX is extremely bullish, and we are hoping we may finally break above and start a new bullish trend. But we need to wait and see.
If you want to learn more about our SPX weekly analysis, subscribe to our weekly newsletter.
Leave a Reply