Like the Dow and the Nasdaq, the SP500 printed a big Upthrust bar due to the news from the UK. And like the other two, this big Upthrust didn’t take out first the top of the last major range, so to deduce here that this is a major change of behavior that should start a whole bearish market Read More
June 2016
The SP500 market showed weakness throughout most of the passing week by staying in the lower side of the monthly range. Even after a clear sign of strength on Thursday, made by a bullish pinbar on the Daily lower Bollinger Band, a thrust up that was made on Friday most likely should have started a bullish Read More
Perhaps the “Dilemma” about the Semiannual bar that is about to close by the end of June mentioned in the last review, and the market being in a 10 points backwardation, have led the passing week to close much weaker. It happened after taking out both April and May Monthly Highs, again, a midterm bullish Read More
The month of June started with an important Monthly HH that took out also the High of April which is also the last Weekly swing High. For the longer term, this thrust is a bullish signal to get to the 2180 area, above the all time high of 2134. In the previous review we mentioned Read More