S&P 500 Futures At Important Resistance Line

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As I’m typing this, the is up six-hundredths of a single share level, simply meandering beneath its resistance line.

It is a pretty vital resistance line, however one which might be very simply penetrated, as a result of it’s merely anchored to a single information level. There’s, nonetheless, a completely huge blob of overhead provide which, even at these ranges, ought to function a extreme obstacle to additional upside value motion.

What’s attention-grabbing about this “blob” is how properly it’s expressed in some vital particular person shares. Right here we see Alphabet (NASDAQ:) which experiences after the shut as we speak. I imply, if that isn’t a high, what’s?

To me, the much more compelling sample is Amazon (NASDAQ:) which experiences Thursday after the shut. To my eyes, that is probably the most weak family title inventory on my radar.

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