SP held the gap up open yesterday and traded up to the next resistance area. Globex traded up to the 1099 area. In yesterdays blog we pointed out the previous resistance at the 1101 area. Late in the day and into globex the SP 500 Emini formed an AB=CD and 1.27 extension sell pattern at 1098.
Since the market has traded up to that resistance area, still can move a bit higher into that resistance area, and has had 5 days of trading up we will watch for a retracment sell pattern in the first part of trading today. Should still also see support on deeper corrections.
Have a great trading day.
Leslie
www.tradingliveonline.com

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