Slight Pull Back on the SPX

On the prior post we talked about a short term trendline on the 15m chart. It did not hold, and with that weakness we had a minor sell off before catching at the 50MA and bouncing back up a bit to close at $1525.10 (still a few points off the all time record). We'll have to wait and see if the bulls come back tomorrow, (just like they have been for the last couple months) to give us our new record close. The chart below shows the break of our short term uptrend. The purple trendline is a longer term uptrend of the 15m bars, we closed just below it today.