Yesterday the S&P 500 closed once again within the range we have been watching, that includes the upside (1993.48) and downside (1903.07) parameters to a test of what we have called ‘Resistance #2’ at 2040 (Resistance #1 was 1975, which SPX is still dealing with on its bounce attempt).
Isn’t it interesting that one of the few sectors in an unbroken bullish uptrend, the Biotechs, are down hard today as the stock market gets the relief bounce (a bear trap we managed in real time in an NFTRH update)? While I won’t go into details, the upper panel gives the parameters on the S&P 500, which remains bearish as long as said resistance holds. … Continue reading Biotech Inverse the Stock Market Lately
