S&P 500: 1,325 and 1,331 Holding
Still have an hour to go, but an S&P close below 1,325 would be best case scenario. A close below 1,331 also aligns with the exhaustion case. In terms of increasing the odds of an intermediate top, a close below 1,315.38 would be a plus. Thus far, we have made no changes today. S&P 500 may still try to make a move back toward 1,327, 1,330, or even 1,340. The recent move was relatively strong, which means even if we are “exhausted”, a weaker move higher (technically) may be required.
