SPY Resisting the Bulls
I actually had a really fancy-shmancy market video planned for you all, but after having recorded it, and being so proud of it, I saw that my microphone had been on mute the entire time.
Now usually I check for that kind of stuff before recording a 20-minute commentary, but apparently I have a bad case of the "Moon-days".
Instead, I grabbed one of the images off of the Stock Blog Nation and will use it as a substitute since that is what I was primarily focusing in during my market video.
Notice on the SPY chart below how we have sold off hard when testing the overhead rising resistance. Not consolidated which would've been bullish, but sold off, and I do mean hard.
here's my analysis on the SPY: