After the market bottomed this week and hit a large level of support, the market popped and is heading toward resistance. The biggest thing we want to focus on is the daily Ichimoku Cloud. The S&P 500 (/ES) broke through the bottom of the daily Cloud and is now approaching the flat top line. We’ll review this major inflection point along with other major levels that could help us determine where the market is heading next.
Stay Focused!