S&P500 Sets Up for Correction

This is not the chart pattern the bulls want to see at a major resistance level.  Today’s high and low in the S&P exceeded yesterday’s thus carving out a  bearish engulfing/or outside reversal day.  One point on a chart is just noise and does not make a trend so watch for follow through selling tomorrow for confirmation of a potential trend reversal.

Ouch in silver and gold today!  Monster reversals.  Hurt us big time.

(click here if chart is not observable)

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This entry was posted in Equities, Gold, Technical Analysis and tagged , , . Bookmark the permalink.

One Response to S&P500 Sets Up for Correction

  1. Pingback: Is the Correction Camp Too Crowded? | The Big Picture

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