We're also Just about at the Triangle Resistance

I showed in a post yesterday what technical traders will be expecting, a test of resistance on the bottom side of the SPX triangle, which is right now out to about $165.25 for the SPY, but as low as the breakdown point around $164.95 which is where we are right now.

As I mentioned yesterday, traders expect this to be a "Kiss the triangle goodbye" test of resistance so quite a few will short any sign of the market pulling back from that area and I believe the market WILL give traders what they expect, at least long enough to pull in some shorts which the market will need to break above the triangle on short covering.

If the market heads right through it without any kind of look of "failure", I'd be surprised so I mentioned this yesterday, if you see it, don't be surprised.