Friday’s session has set up Monday as a pivot point for the future of the market’s direction. The S&P 500 is near the support line at 1070 and there is narrowing room for advancement before resistance is met.
Above average volume shows an increase in professional trading.
The Dow, NASDAQ, and S&P 500 were all basically flat on above average volume on Friday. Each index finished in the middle of the range which is a bullish sign as they each are near support.
Monday will give us a better idea of where the market is heading. My best guess is that we will get a bounce higher and continue in that direction until we run into resistance around 1080, 1085.
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