Captain Obvious Says “A Key Juncture for the Market”

I am probably not telling most public website readers anything they don’t already know and I am definitely not telling NFTRH subscribers anything they have not already been made aware of; but this pig turning down from a whipsaw move above and back below the SMA 50, is painting what looks like a a bull trap.

If today closes in this condition a daily bear flag will have broken down. That could imply yet another test of the 200 day moving average (black) and I feels ins me bones that a 3rd time may not be a charm for bulls. Twice is well-tested; Three times is excessive (and heavy action, considering the lack of higher highs). I am trying to be patient to see how the close looks but at this moment I want to get shorter.

spx

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