The market shows the power of the chart reading again today

The market shows the power of the chart reading again today !

Yesterday, in the general US stock market view post, I used the S&P 500 as an example and pointed out the following key point:

• "Bulls need to follow through and break out 1070"

Today, when S&P 500 hits 1070 (actually 1069.62), it just comes back ! Isn't it beautiful ! Every time when the market proves my hypothesis, I am very pleased, not purely by the money made from the testing, but more by the better understanding of the market motions and evolutions.

So far, the market motion is pretty clear, and I want to point out the following key points to watch:

• 1050 - Bears need to break down this number in order to achieve a measurable bearish move
• 1070 - Bulls need to break out this level in order to sustain the bullish move