In "very indecisive" trading around support at SPX 4134,
the S+P 500 15 Minute Chart shows "clues"
that point out out why the market is not falling hard yet,
after a perceived "rising triangle breakdown" (Chart Shown Here)
The 15 Minute KST Indicator has crossed to the upside, and is on a short term " buy signal." (Indicator Shown Here)
And after having broken the "rising triangle" to the downside
SPX is now rallying back up the broken trend area in what could be technically perceived
as simply a "bearish snap back rally", however often those rallies can carry higher, and go longer than expected.
The one indicator that is continuing
to show short term "trend" clearest is the VIX,
which continues to decline off the April 12,2023 high at19.98. Last 17.25 11 AM
meaning volatility traders view the stock market as continuing to want to go higher.
Bottom Line here is the "obvious uncertainty" that is priced into the US stock market right now.
Having said that,
traders should view S+P 4100,as support that the market "should not" violate right now.
Future updates will explain the technical reasons.. "why "
SPX 11 AM OPEN 4127.71
THE_UNWIND
WOODS OF CONNECTICUT