Corrective Action Very Soon
The S&P 500 continues to make attempts to break to new highs but is still having difficulty breaking the 2120 level that we had called some time ago. We had called for change in trend for either the 20th on Friday or for today March 23, 2015 and we are seeing some signs of divergence and a potential change in trend. Prices are retesting the 50% Fibonacci fan and their significant resistance at 2115 and 2120 in the S&P 500. If we are going to see a break to the downside it should be happening very soon as we believe that the economic picture is bearish as well as the international and domestic political stage is dangerous. We are also seeing signs of commodities and gold silver rallying and improving. If we are going to see a corrective move it should or could start to happen very soon.