Defend, Defend, Defend...The Bears are engaging with the Bulls along 1400 - 1420. Neither one showing that they will be the first one to withdraw from region. While the Bears have the upper hand (the S&P 500 is trending below the Upper Line of Uptrend Andrew's Pitchfork), it is inconclusive to say who will be the eventual winner in this battle. Looking at the calendar, perhaps both are waiting for the upcoming ECB announcement?, China stimulus plan? Upcoming result announcement? etc....
