500 index has tested line (1) in the chart below, numerous times since the highs back in 2000. It seems like the “Second Time” (red arrows) it tests this line as support/resistance, is when price action really picks up speed.
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I shared to “BE PREPARED” the first time the 500 index hit this line, suggesting to raise cash on a break of support (see post here). I believe that we should “harvest” at resistance, shared to take this action 8 days before the highs back in the spring…suggesting to do it again.
This is the second test of this line, this year. Suspect it is the “Second Time” that will provide us the real fun, per a big move off of this line…. I am Not a BULL or a BEAR (see post) just going to follow the price action at this critical price point!