For the past three months the close of the market has held above the Yearly Open. If June closes below it, this will indicate bulls are weakening.
Comment:
Big boys may be looking for longs to sucker in. Recent 'support' found between 27950-28200 is held with low volume. The low volume is the dumber money trying to force down the market and reflects the dumb monies total liquidity. The institutions are hesitant of further devaluing their remaining positions by plunging the market further so are defending the current support zone. Instead they are looking for a relief rally to sell into - one which is in the making. Be suspect of any coming rally as it is expected to fail and the most it will climb to is the downward breakaway gap level of 30,000.