Pre-open Tuesday 17th November
Dayframe: Monday gap up again. Value Area was higher and narrower. More volume was generated than Friday but slightly below the recent average. I will wait for Buyers to be marked (green) before committing to new longs. SPX and NYA approach important overhead resistance (1/2 Bear Market) and the technicals suggest the market might stall some point soon First Level Support at 1088.50 and First Level Resistance at 1108.50.
Longframe: Breadth is generally supportive of higher prices and sentiment doesn’t look right for a top here.
