Wednesday - Pause

We have now reached the 78.6% Fibonacci retracement of the swing down since mid-January, and have back to back pause days there. this sets the market up for a put up or shut up move. Either we continue the grind it higher, or the bulls are rebuffed and we swing back to the downside. More sideways congestion is also possible, but not probable since we are at a key inflection point.

We may be on hold until after the Job Numbers either way, which are set to be released pre-market on Friday, March 5th. Will this number really make a difference?

Resistance

1125 is currently resistance-

Will be traveling tomorrow till next week tuesday

Broken

Here we go broken higher. Now the close is important as the last few times we have broken during the trading day but not closed above the resistance area.

Oil

Now over 80.30 need to break that 80.44 though.
Ben watching this thing like a hawk for the last 3 weeks

Oil

Well will this thing get to my $82 or not- $80 seem to have alot of selling pressure but I believe this is preview of Oil busting higher. I could definitely be wrong

Oil

a couple trading days ago I thought OIL would have broken through higher and head towards $82. I still think it was a shake out and we will still hit $82

March 1st

The S&P 500 is in a coil right below the 62% Fib Retracement of the swing down off the highs in mid-January. This puts us in wait and see mode for the time being.

If we get vertical extension with volume, watch the enxt fib retracement at 1128 for the next stopping point. If we were to roll back over, we could continue on the road that started in mid January