Looking for a pullback to 4017-4020 and test uptrend breakout.
Be very surprised if we drop back below 4005 without some news or economic data.
Powell speaks Tuesday morning , I think it will be a nothing burger and I'm looking forward to ADP Wed.
Overhead resistance is 4050, support is 4020... I'd be looking for some range trading, maybe an inside candle type of day.
I will say this, looking at the 1 hour RSI, CCI, and MFI; the last 3x these indicators were this overbought led to a 50-80 point drop minimum.
I'm only calling for a 30 point drop here but if history repeats it's self the lower targets are
4000 3970.
Be very surprised if we drop back below 4005 without some news or economic data.
Powell speaks Tuesday morning , I think it will be a nothing burger and I'm looking forward to ADP Wed.
Overhead resistance is 4050, support is 4020... I'd be looking for some range trading, maybe an inside candle type of day.
I will say this, looking at the 1 hour RSI, CCI, and MFI; the last 3x these indicators were this overbought led to a 50-80 point drop minimum.
I'm only calling for a 30 point drop here but if history repeats it's self the lower targets are
4000 3970.
