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)

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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