I have been short for a few weeks now and some mornings I get paranoid that this resilience will eventually give rise to another leg up.
From my previous post, the extract is that it is not uncommon to have 5 weeks resilience on important tops.
From this chart, I get that the area is getting restricted (capped and floored) and this is why nothing is happening.
Now: all together the likelihood of a move down is great than the likelihood of "more of the same".
Once 2040 gets cleared, it is a techical event that may induce another technical event below 2000 after what SP500 may target 1940/1880.
I initially thought that the correction would end mid April15 but this chart tells me that since the correction took longer to roll, it may actually last 3/4 weeks from the point of break (2040) and could last until mid May.
The correction we are expecting is similar to Mar12 or Jul07.
Once launched, a little excess to 1880 to take tight stops out can't be ruled out.
1880/1940 could be a great buy leading to a new All Time High (final).
HERE - ALTHOUGH THE GENERAL IDEA IS A SHORT TO BELOW 2000 - A LAST PAIN MOVE TO 2130 CAN'T BE RULED OUT