I'm Not Convince

The SP500 moved above the 1120 level, something I said the market needs to show us in order to give us some clarity on its direction. But the manner it moved and tried to hold that level today was not convincing to me that the market is ready to move higher. The 15 minutes intraday chart shows how it faded in the afternoon, which is why we never try to anticipate what the market might do. Always wait for the market to tell us what its intention is.

SP500 Intraday 15 Minutes:



SP500: