My Take:
Looking at the 4-hour chart of the S&P 500 Index, it's clear that we're approaching a critical juncture. The price recently rallied up to the $5,620 - $5,630 resistance zone, which has been a significant barrier in the past. However, this level has proven to be tough for the bulls to break through, and we're now seeing signs of potential exhaustion.
Key...
Expecting a rally to about 4k to test the important MA's, then reversal. USOIL should be a similar move. Gold may peter soon out if the dollar is going to reverse. Bonds look good to continue to 140 area.
good luck!
Not getting the kind of reaction I was expecting. I still expect a move down, but I believe there's enough warnings that we're going to start a large rally soon for a few weeks or even into end of summer.
