The bulls had an excellent day yesterday and broke back over the daily middle band. This opens up the upside on a further break over 1988-93 resistance, unless we see a rejection candle today that breaks back under the daily middle band. This would be a rejection candle and would normally reverse most or all of yesterday’s breakout candle. The daily middle band is at 1960 at the start of today. SPX daily chart:
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I’m not sure where SHJ is this morning, so I’ll do just a quick comment cleaner. I pointed out on my Tastytrade show yesterday that gold and miners were finally starting to show the potential for strength. Juniors in particular had a nice series of higher lows. That observation seems to be panning out so far this morning, with a 4%+ rise at this point.