SP500 attempted to go down in the morning and turn back again by the end of the day. Did not retest 4220 level intraday, which is good thing for bulls, this shows bulls are aggressively supporting price in this level.
From a Wyckoff methodology, we had SC and AR yesterday and Secondary test (ST) happened today around 4300 level. This completes Phase A, now SP500 enters Phase B. In Phase B, price spread can be erratic and so do volume and buyers and sellers try to take control, so lot of volatility expected in coming days, also there is high chance it will retest 4220 level in Phase B. SP500 is in trading range now, coming days will dictate whether market goes higher or lower. Will discuss more on this as it unfolds.
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