Meltdown Risk Day
Market was up against Big Resistance
Basis the S&P the market has put some time in the 2620 – 2720 no-mans land price area.
After using up a lot of energy over the past 16 days in that area there is a real risk of a melt down here. Kind of what we call a snow cone day in August at the Illinois State Fair.
Market will probably decline to just below the 2620-2720 area, maybe 2607-2612 to pause.
Fracture Chart Update
Since the Fracture signal back in early December 2018 at 0.100 we saw a runup and then a snapback in the Fracture line. It looks like today there is some indication that the double test of the 0.62 support area is completed.