The S&P 500 is having a tough time with 5640

There is a good battle going on in the S&P 500 today.

The initial Powell pop staleld at yesterday’s high and then pulled back to 5595. It rebounded from there in another push at the highs but the bulls couldn’t break out.

Now another round of profit taking has hit. That’s something of an ominous sign but watch the lows of the day very closely.

This article was written by Adam Button at www.forexlive.com.