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The S&P 500 continued to test the prior swing high of 2120 hitting the high today of 2120.94 just under the high of 2125.92. As we've stated several times we are seeing price action run sideways here as it tests the prior highs but still appears that momentum may be slipping on the longer term and we may be looking at a weakness in the longer term swing. Trader still need to be mindful of the longer-term trend which is up but still experiencing some significant resistance as it has since January where prices hit 2090 and we have only went 35 points higher since the beginning of the year. If prices start to break we could see a significant move toward the 1800 to 1600 level as we've stated many times prior.
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