Near Term Trend: Positive to Neutral
Friday’s close: 3017 (-5)
UPDATE: For over 4 1/2 months we stated, “Overall key resistance at our line (3115) should cap any further advances”.
Seven weeks ago, three weeks and again 15 days ago the Index approached our proprietary resistance line, and could not violate it.
We have been forecasting range bound between 3080 and 2950 for weeks, and that appears to be the case for the week ahead once again.