The cash S&P500 formed an “inside” bar last Friday on the daily chart. In most situations an inside bar does not reveal much information about the market and this is one of those times.
The two items I will be watching for this week are, 1) The current retest of the January 23 low, and 2) whether we close the week below 1325.19 in order to get into position for the weekly chart to generate a possible technical “buy” signal.
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