By John Pisanchik

The market experienced a rally these last few days and I again caution any feelings that the rally will continue. I did say a few days ago that there could be a head fake to the upside, and that is what I still believe we are seeing here. I do believe it is close to being over. There is a good amount of resistance at the 1120 level. The market may chop around here for another couple of days, but after that chop,  a resumption of the downswing will be in order. Happy Trading.

Filed under: Market Opinions

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