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Good evening, traders. Tonight will be very brief because I’ve come down with something that’s ravaging my throat and I feel a bit off. I don’t think this is one of those colds that will stick around though. I think tonight will be the worst of it.
The S&P 500 has been able to maintain its bullish wedge breakout:
The longer this can be maintained, the better for bulls. That said, it’s an inside day after a huge rally, and that can often signal that we’ll go lower soon. Staying up here for a day could simply mean that today was a distribution day, and the “hanging man” candle is at least a first good sign for the bears.
IF the bears get some relief, I’m hoping to see this:
I hope everyone has a fine evening.
Parts of this article may be reserved for members. You may learn more about becoming a member on the Join page.
You are also warmly invited to join our growing community in the Discord server (there are many public features in there). The invite link is here: https://discord.gg/58FSjcDhvG.