Bulls And Bears Battle For Market Dominance
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This week is primed to be a big week in the market. Prior to today’s open, the market has sold off from where closed out last Thursday and could possibly be headed lower. If the market can’t build a base here, then the rally we have been talking about the past couple weeks could be coming to a close.
Right now, I am look at 4100 on the S&P 500 to be a major line of defense before we come crashing back down to 4000. If these levels are broken to the downside, look out below.
However, this move lower could very well be a part of the pullback we have been mentioning that could ultimately lead to a move higher. If we build a base here and hold that 4100 mark, it would be inconceivable to imagine 4200 coming in soon.
Mark these levels on your charts and be mindful of where are at on the higher time frames so you do not lose perspective of where we are BEFORE putting on your next trade.
Stay tuned for more!
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I look forward to trading with you, but until then, as always…
