Last week the S&p and the Dow went up to test the scene of the crime. The 50 day moving average(blue line). It was support for the first 5 months of the year. Now it is resistance. Twice last week the bulls could not break through it. There are open gaps at 1587 and 1622. The weekly Pivot is at 1588, and the July monthly pivot is very close to 1600. The astro guys are saying this week could be a very whippy where "no support or resistance level is safe". I feel we will see a test of the July monthly S1 pivot point at 1550 sometime this month. Watch 1550-1622 this week.
The Dow Jones index(INDU) went from a high this year at the yearly R3 pivot to a low last week on the yearly R2 pivot. Price moves from pivot point 2 pivot point!
