Test of the Top
We continue to hone in on weekly performance of the S&P. Last week was an inside week, both the highs and lows were within the range of the previous week. If our belief that we have been seeing a top build is correct, we should see a classic formation with last weeks highs taken out and then then the lows and close for the week be within the prior weeks range, or possibly even a super top where the weekly low and weekly close be below the prior weeks low.
We will just let this unfold, and watch the other pieces set up in the “fracture”.