Last analysis expected that the S&P was now in a primary degree pullback to continue lower. To end the short trading week, Thursday saw price move lower as expected.
Price is still range bound, completing an inside day. The breakout is now expected to come tomorrow.
Price is still range bound, testing support at today’s low. The breakout will come, and the longer price coils within this range the more violent the breakout may be.
Price remains range bound again today. The longer price remains coiled between resistance and support, the closer and more violent the breakout will be.
A breakout was expected for Friday but did not happen. An inside day was completed. Price remains range bound for this market.
Again, upwards movement was expected. The session closed green although it completed with a lower low and a lower high, the definition of downwards movement. Price remains range bound between resistance at about 2,370 and support at about 2,340. The breakout will probably come tomorrow during Non Farm Payroll data release.
Upwards movement was expected. Price did move higher to begin the session, but fell strongly in the final hours to close red. An outside day was completed.
Upwards movement was expected for Tuesday’s session. The session completed a green daily candlestick, but it was an inside day with no new high.
Monday was expected to begin with a little downwards movement to either 2,358 or 2,354.
Price did move lower, but it reached down to 2,344.73 before bouncing strongly higher.
A brief shallow pullback was expected for Friday. Price moved overall sideways meeting the expectation.