Today’s market action was predictable seeing that in the
last two weeks the market has seen some major news events that has seen all
major indexes rise to new highs. I am
expecting a pullback this week most of it will be profit taking. There is not a lot of big news this week that
will move the market.
The S&P has developed a nice trading channel it is currently
trading at the top which means that most traders are looking to play a pullback
when that happens.
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