NorthCast Market Update: Epic Battle
Not just a battle for control but an epic battle for control.
Something really interesting happened at yesterday's lows. Pay close attention as it may decide the outcome of the battle.
$SPX
For those who prefer to watch this on YouTube I've uploaded it to there as well:
$SPX weekly updated. Context above.
Back test of trend break. Markets so far ignoring. If it rejects the back test markets likely ok, if not may see more volatility.
Context in top of thread.
#Watching
2 year rejects the back test of the trend line. Equities at highs of the day in reaction. I remain impressed how precise all this is playing.
See context on top of thread.
Looking at the weekly chart this has been a clean and successful backtest with all key MA's recaptured for the weekly close. More to discuss on this in the days ahead. Have a good weekend.
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