resistance

The S&P futures have run into a wall at resistance between 1115-1130. Both yesterday and overnight have held these areas as if the vehicle had hit a swamp. The daily CCT is at +28 and we have not seen any instances of minus tick for days which means that the slowing of the progression upward in both price and tick means that energy is all but extinguished and this market is set for a pause to regain its energy. It would be healthy for the bulls if had a 20-30 point correction on the S&P. We are still hovering at old resistance and the 200 DMA, be very careful at these levels as a breakout to the upside or downside is possible on any news items and risk becomes difficult to handicap as the end of the month brings some uncertainty.