5-29-16 Here Comes Resistance

5-29-16

Folks one look at the SPX chart and you can clearly see we are fast approaching resistance.

If you subscribe to the theory of “Buy Support, Sell Resistance” like we do you can clearly see we are nowhere near support here. Coupled with the recent ramp up higher the last few days being classic into a Holiday low volume trade? All the more reason to sit on the sidelines when it comes to going long here.

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