Get started

Sp1

Bulls and Bears zone for 06-19-2019Market has been trading in a range during overnight session. We will probably see same type of action all day until FOMC meeting announcement at 2 pm ET. It would make sense to see a test of yesterday's High before deciding on direction. Very likely aggressive selling to follow later on this afternoon if the market does not like what FOMC report has to say. It is definitely going to be very volatile since last few days market has been trading in an expected range.
SP:SPX
by traderdan59
S&P seems to be very Bearish till end of June and Perhaps SummerS&P has a Top forming H&S pattern and at the very neck line of the right shoulder there are two significant Gap down days. Even though the Gaps were closed within few days, price is still below the right side Channel upper line. As long as price stays below 2900 and the Upper line of the Channel, it is Bearish for S&P 500. I noticed that after a Channel is established which ever direction market first breaks the Channel, is the direction of the the market in short term. Just my personal observation. Price broke below the bottom line of the Channel first and retraced to test the Upper line of the Channel. I believe sometime this coming week S&P will trade below the neck line. If market goes below the bottom line of the current Channel in June than we can expect S&P to test S6 support line by end of Summer 2019. The catalyst to this argument is that Bulls have to defend 2800.
SP:SPX
by traderdan59
Bulls and Bears zone for 06-05-2019Market rallied overnight and started to sell off after ADP employment numbers were released. Pattern suggests that it will be a selloff and maybe a rally later in the afternoon. Market should test overnight High and/or yesterday's HOD. The Great Market Giveth and The Great Market Take It Away. Couple of reports that could impact the market: US:PMI Services Index 9:45 AM ET US:ISM Non-Mfg Index 10:00 AM ET US:EIA Petroleum Status Report 10:30 AM ET
SP:SPX
by traderdan59