$SPX unable to break out of symmetrical triangle pattern and is now crawling along the upper trend line. With today’s small shooting star doji and an apparent loss of momentum, one has to be concerned. Monday is a long way off and anything can happen before then, but clearly there was selling going on right out of the gate as traders preferred to raise cash rather than hold equities over the weekend. When you look at the closing numbers you really wouldn’t think much of it, except for that potential reversal candle.
We will know mucho mas come 4:00pm Monday.