Cash indices were push down hard Friday afternoon just before close causing SPX breaking out of its triangular formation (thick blue) to the down side. I believe that's a false break out. Big Money is trying to trap bears before pushing indices much higher late next week.
Chances are good that we see SPX testing the support range around 1620's early this week, possibly Monday AM. That would be a good buying opportunity. I started doing my 2nd buy minutes prior to close on Friday. I am planning to finish my second buy sometime Monday as SPX tests 1620's support range.
Disclaimer: The views expressed are provided for information purposes only and should not be construed in any way as investment advice or recommendation. Furthermore, the opinions expressed may change without notice.
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