zondag 28 mei 2017

SP 500 Update

The following chart of the SP500 includes the heliocentric Bradley indicator (blue line). There were three possible change in trend dates, which may have been the 6 week lows. Coming up we have potential turn dates on May 26th and late May, early June...


We had a descending triangle (green) on the chart. As often happens price crashed through the upper line of the triangle, in effect gapping twice. Those gap areas may act as support. Note price moved down and bounced close to where the arms of the descending triangle met. I’m expecting volatility with both ups and downs but moving forward I’m looking for a low probably mid-June....