The market continues to edge higher into uncharted territory in-line with the next arm of the current T structure.
Still sitting at or just below the rising resistance line projected from the 1 March peak.
There is little resistance above this level and should it proceed it is probably a quick move to 2600 – site of the upper extreme of the channel. This would certainly surprise many participants.
There are some indications of deceleration in momentum and breadth and so perhaps a more likely outlook is a continued low volatility grind sideways with an upwards bias.
Another pulse high is scheduled for Friday and another peak is projected by the T structure for Monday.
Be prepared for whatever comes next:
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