Prices rallied early in the morning to test the TA but reversed course for the rest of the rest of the day. Unless the market is able to rally past 2163 in the next few sessions, the 2119 lows are going to be tested again for the fourth time. The market is undecided and needs an excuse for the next substantial move. The Feds have to raise rates sooner or later but given Obama's luck, we might see rates rise only after the elections. Once rates start to rise we should see a recession within a year or two and then we will find out the consequences of keeping rates so low for so long. My guess is we will see a big correction in all asset classes, specially equities and real estate.
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Short Term Trend = Bearish
Medium Term Trend = Bullish
Long Term Trend = Bullish