Yup, so far a nice reaction off that 1290 level. 1284 gone, so now 1276 SPX will maybe be tested prior to a re-test of the highs:
stockcharts.com[e,a]daclyiay[pc9!c13!c20!d20,2!c50!c200!b50!b200!a1171!f][vc60][ila12,26,9!lh5,5!li10,10!lp14,3,3!ll14!lo14!lb14!le5,10,1!lh89,34!lh45,17!li180,68!lp3,2,2!lb5][J12577505,Y]&pref=G
If 1276 is breached, we may need to look at a possible intermediate high having been made. I still believe this may be a corrective drop that will result in a re-test of the highs yesterday or slightly higher highs.
CSCO is holding up well here, which is not something you see on a drop off a major pivot high. |
