Near Term Trend: Positive
Friday’s Close: 2096.07 (- 19.41)
UPDATE: No change from our closing comments weeks ago, “At this juncture, for the 15th time in the last 14 months, the Index is within 1.6% of historical highs. Is this another false breakout attempt? Odds favor a break to new historical high territory, but that requires a settlement above 2136.00”.
Subsequently the Index traded as high as 2123.00 this past week (highest point since July 2015), but failed yet again to take a run at 2136.00 and settle above that historical high. On the contrary the Index settled 27 points below the weekly high of 2123.00.
Bulls be careful