Bull REJECTION / S+ P 2753.75 MajorResistance HOLDS LIKE A ROCK

S+P 500 rallied right up to SIGNIFICANT RESISTANCE
at 2753.75, in an almost TEXTBOOK Chart Retracement Move
only to be QUICKLY + DECISIVELY .. REJECTED,
on a first attempt.

Major Resistance Trend Line 4 Hour Chart @ 2753.75
10/3/18 High of 2939.86
11/8/18 High of 2813.86
Trend Line is Drawn Down Connecting those Highs.

Today's rejection was important
and it is now KNOWN
in the marketplace.

Institutional selling was quick and immediate,
and dropping the SPX 15 points, in the last hour to close at 2737.80

Bears now have clear MAJOR RESISTANCE to SHORT on any rallies up to 2753.75

USE IT WISELY !
SPX LAST 2737.80

THE_UNWIND
11/29/18 445 pm
NEW YORK

Comment:

Bullish Breakout on the Close Above Trend Line Resistance
from 10/3/18 High of 2939.86
In After-Hours Trading, S+P Futures are adding to that gain.
Bulls have managed to break out above resistance, to close the month.

The bulls took full advantage of the circumstances of
the Trump meeting with the Chinese Premier this weekend,
thinking that some kind of negotiated trade deal will be announced,
which is obviously a...HUGE GAMBLE, on their part.

If there is no agreement,
S+P may fall substantially on Monday 12/3/18 !

I believe prudence is in order here.
Risk/Reward is a flip of the coin here.
I would suggest a wait and see, till Mon. Dec 3,2018,
to see the markets reaction to the G-20 Summit this weekend.

Sometimes the market gives, and then the market immediately takes away.
As in Buy the Rumor,Sell the Fact

I shall update this further, with my "Weekly Preview " 12/3/18,
sometime this Sunday ,prior to the market open on Monday morning.

THE_UNWIND
11/30/18 445 PM
NEW YORK