The False Breakout

Did a lot of bullishness just get trapped above 2815, the S&P 500’s previous resistance level that appeared to have vanquished recently? Here’s Jon Krinsky of Baycrest Partners with my Chart o’ the Day: Jon goes on to note that “Overall breadth remains a concern (just 38% of R3K above 200 DMA), and Friday’s 87% NYSE down volume day (highest since Dec. 4 th) is perhaps indicative of sellers w...

source https://thereformedbroker.com/2019/03/25/the-false-breakout/