Sending out a weekend wrap up here with some thoughts on the close today and on early next week.
Bulls have continually failed to show up where they needed to this week, despite numerous opportunities. 4655-60 has been my main support on Thursday and Friday and while it did defend twice (yesterday, then today after taking out yesterdays low quickly and recovering), bulls are having great trouble getting momentum going with price fading into the close. It did not lose support into the close, but is nonetheless not ideal.
From a big picture technical perspective, things did not go well for bulls this week. 1) It attempted to make an all time high, and then failed. This alone isn’t good, but not the end of the world (Chart and analysis below)