Tuesday, August 21, 2012

S&P 500 ~ Intraday Update ~ 21 August 2012

The SPX hit a new bull market high today:

As you can see in the chart above, after a new high was made, the SPX usually corrected for a few days. If we can't convincingly break the 1425ish area, I think we'll get the same pattern again, i. e. a correction to 1400ish.