Two days ago I did “Triple pack Tuesday” reflecting that the 500 index was close to long-term resistance, yet on a short-term basis, a bullish downside wick had taken place and the patterns suggested a rally was due. (see post here) Below is an update to the 3-pack, showing that the rally has taken place the past two days and the 500 index is up against to short-term falling resistance.
CLICK ON CHART TO ENLARGE
The week before easter is usually a positive one. This seasonal trend looks to be coming true as the 500 index is pushing up against resistance on all three fronts.
Game plan…would be a buyer on a breakout. With key resistance at hand, am attempting to score on defense in the small cap arena with a tight stop on RWM.
