although the near-term trend had turned sideways as the S&P consolidates within a narrow trading band between the 1040 and 1165 levels, pressure still remains to the downside and the short-term floor at 1040 is wearing thin. This increases the probability that the index could follow a so-called trend channel lower, heading toward the important sentiment 1000 level.
Articles tagged with: TLT
our near-term work on price structure and momentum suggested that we should see at least another pop to new recovery high, slightly above the 1000 level on the S&P 500 index over the next couple of days. For the intermediate term, expect a short-term high between the 1000 and 1020 areas, and then a pullback to 950




