The market just does not have enough buying power, at the moment, to make it to 1111.50.
Transportation and Financials are dragging the market as they have not been able to follow the broader market to new highs. Discretionaries, energy and technology are relatively strong.
The market is still bullish with the $TICK staying in positive territory. For swing traders, the better buying point was yesterday's test of the overnight low. On test of the 1111.50 level, swing traders will be taking profits.
Charles
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