This market made a new high today after the past 6 trading days. The market opened lower and closed lower. The immediate trading pattern in this market has exceeded the previous session's high intraday reaching 5094. Therefore, this market closed below the opening print while also closing down from the previous closing. This pattern warns this may be a temporary high.

As of now, we have not broken out and it still remains below our uptrend technical resistance projection which stands at 5080.

Clearly, this market is still above the critical support point at this time, which lies at 4907. Initial support lies at 4930. This market has exceeded intraday 2 of three projected resistance points and it has closed below all three of those same points. Our next projected resistance number stands at 4958.

Additionally, our central point cyclical study models also ended in a bearish mode for the closing warning that the upward momentum is subsiding. Given the fact that we have made a new high and this study just turned down today, caution is advised that this may prove to be a temporary high and a break of today's low of 4950 would tend to confirm that possibility. Furthermore, the short-term Stochastics have also signaled a possible crash is likely. During the last session, we did close above the previous session's Intraday Crash Mode support indicator which was 4871 settling at 5050. The current Crash Mode support for this session was 4893 which we closed above at this time. The Intraday Crash indicator for the next session will be 4946. Remember, opening below this number in the next session will warn that the market may enter an abrupt panic sell-off to the downside. Now we have been holding above this indicator in the current trading session, and it resides lower for the next session. If the market opens above this number and holds above it intraday, then we are consolidating. Prevailing above this session's low will be important to indicate the market is in fact holding. However, a break of this session's low of 4950 and a closing below that will warn of a continued decline remains possible. The Secondary Intraday Crash Mode support lies at 4814 which we are trading above at this time. A breach of this level with a closing below will signal that a sharp decline is possible.

Intraday Projected Crash Mode Points
Today...... 4893
Previous... 4871
Tomorrow... 4946

This market has declined 13% from the last important cyclical high of 5722. Since that last important cyclical high, the market has made lower low of late over the course of the last 2 events.

We did close above the previous session's Projected Resistance indicator on Thu. 19th which was 4969 settling previously at 5050. Our projected breakout resistance is well above the market by 2.86% standing at 5100. However, the Projected Breakout Resistance indicator for the next session will be 5139, which is still above the current closing. While an open back above this pivot number or closing back above it signals the rally may resume, while an open below this number will warn that a mere penetration of 4950 and a closing beneath this pivot point will imply the market will head lower to retest support.

Intraday Projected Breakout Resistance
Today...... 5100
Previous... 4969
Tomorrow... 5139