- Trend up day on day 2 for 1.5% gain. Short term high slightly higher on day 3
- Modest gain on day 2. Short term high on day 4
- Modest gain and short term high on day 2
- Inside day in upper half of breakout candle on day 2. Short term high on day 4
Now this is only a sample size of four, but the lean is clear. These stats are suggesting that yesterday did not make a short term high, and that that a short term high should be made from today through Friday, and could be as much as 2% higher. Three out of the four closed green on day 2, and the fourth close was only slightly below the breakout candle close. The lean coming into today therefore needs to be bullish, though with the expectation that there should be a short term high this week that should then retrace into (75%) or near (25%) the doji consolidation area that SPX just broke up from.
What are the obvious targets above? Well my eye is drawn to the weekly upper band on SPX, which closed yesterday at 2064 and is within easy reach on any move over yesterday's high at 2056. Next big resistance is primary rising megaphone resistance, which I have in the 2080 area. SPX weekly chart: