Which way will this week close? As detailed across the weekend, both the weekly and monthly cycles are back to their post October low bullish trend. Or could this be a classic bear trap? The problem the bears face is they need big falls..and strong follow through, and that is something that is so often not the case - as we saw last week.
Today the market is actually reflecting the weak econ-data, but..what about Tuesday? We could easily cycle back upward, and even put in a new high of 1406>. Tricky market...good short-stops..remain vital.
*really would prefer a close <1395, a level which has caused some real problems in the past. That would open up a break into the low 1380s Tue/Wed.
SP'monthly cycle - closing red for April ?
We have just 3 trading hours left of April. From the monthly cycle point of view..they are a VERY important 3 hours.
As they say...stay tuned!