The SP500 is set for a drama day as it is currently flirting with a sentiment shift. A held trade above 1122.75 points to a higher trade targeting 1147.50 on any momentum breakout. Don't fight any positive structure as a railroad advance up to 1174 will be in play.
A trade under 1122.75 puts the MKT back in a digestive posture down to 1113.50 and 1104.25 Inflection Pivot. Either price point has the potential to be the low for the expected consolidation, with a close above 1113.50 needed to keep the underlying positive shift intact. Only below 1104.25 is a negative turn anticipated down to 1084.25. No follow through is expected, however 1041.25 is the current lower extreme.
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Identifying MARKET STATE, STRUCTURE and STRATEGY solutions
