S&P Monthly and Weekly
The S&P has followed the monthly charts in February and has continued towards 1331.
once again these levels will be seen as resistance:- 1331, 1339 & 1347.
There are numerous instances when the levels will provide resistance of 8.5 to 14 points during the trading day, which is the statistical range.
However, getting any lasting selling patterns won't be verified unless the market is back below certain weekly levels.
And that Weekly level is 1314.50 (next week).
Note:- the February highs completes the double monthly high pattern during the current Quarterly cycle.
If trading stocks on the long side, I personally wouldn't want to be buying into the market as these highs.
I would once again wait until markets rotate back into trailing support levels.
