As noted in the last couple of NFTRH reports, SPX would start to go bullish potentially for more than the heretofore expected bounce if it takes out and holds the two February highs. It has taken out those highs and today begins the test about whether or not it is sustainable.
I am going to have patience with this process, but if the answer is failure I’ll raise more cash and think about a real market top, pending what SPX might do at the support area surrounding the SMA 50 (4410). As yet though, SPX has made a bullish move and is testing that.
