Dow Jones Industrial Average: -18.90 or 0.18% at 10452.68
S&P 500 Index: +0.38 or 0.03% at 1109.24
NASDAQ Composite Index: +9.22 or 0.42 at 2185.03
NYSE Internals: 1982 Advance. 1029 Decline.
The SPX broke 1113 today, it made a new high at 1115.58. After it made the new high, it sold off a little bit, but nothing to major. I think it was just a consolidation move lower. It came on very light volume, and did almost no damage to the internals.
We may pull back a little further before moving higher, perhaps back to 1085, just to fool some bears thinking that 1115 was the top. But of course, this mere 10 point down move from the highs could have been the pullback, and we continue our way to 1120+ over the next few days.
This chart shows us at resistance at the 50% Fibonacci Arcs retracement. The 50% Fibonacci Price retracement is roughly 1122.
Despite making new intra day highs, we still closed between our trading range, so the topping pattern may still be in play.
US Dollar was up. Crude Oil was down and Gold was up. VIX was also down. Utilities, Tech and Materials led to the upside.
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