There is a particular situation on the S&P500. The index is moving within a symmetrical triangle and differently than usual, volumes are decreasing but like a "wave", they increase during the bearish phase and decrease during the bullish phase. Friday will be important the employment data. However, in this period, there is a lot of "confusion" on the markets, with all (or almost) the correlations were blown.
Comment:
Breakout of the resistance with still low volume, Wall Street flew after an employment data that I don't find so positive. The Average Hourly Earnings was disappointing. The growth of the employed without a wage growth is not healthy growth. Next week we will see if it has been a true breakout or just a bull trap. Have a great weekend to you all!