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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.