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Failing At Resistance So Far

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This week is a holiday week and these often lean bullish but the historical stats for this week are neutral. I’d note though that the historical stats for next week are bullish.

There’s been some impressively tedious tape on Friday and today so far and on the hourly charts all three of SPX, NDX and RUT have been testing their 50 hour moving averages as resistance and failing to sustain any breaks over them.

On the daily chart the picture is more mixed, with SPX and RUT both testing their daily middle bands as resistance, and NDX testing the daily middle band there as support. SPX daily chart:

170410 SPX Daily