$SPY tried again to break out, but $IWM, just can’t get over 81.06. As I write this, the $IWM is trying again, and the $SPY is almost above 141.51 (remember 141.56 is a major break out level according to my $SPY read). The correct action is for us to tap this break out, and eventually get over it.
Even a close around this level is positive, but I have noticed on a 3min and 5min chart, that we are building a head and shoulder pattern. Under 141.20, it confirms, and under 141.16, I think we sell hard into the close.
I guess we have to sit and watch.
May you all have a good weekend.
