Not much time to write as I am on holiday, so only a quick update this week.
Here is the current chart for S&P500 index (click for larger image):
My technical indicators remain as flat as they can be. So this is a market that can go either way in the coming weeks. We have another week of lunar green period to go, so chances are we will see the S&P climb to ~1920 first. And that’s where overhead resistance would be met. A clear break above 1920 would open the door to 2000+
My money is on 1920, and then down in early June.
More on that topic in next week’s outlook.
thanks for keeping us updated. How low do you think we go in june. We have a lunar red period first 2 weeks of june.
Well, we have to see how this week ends first. But my 1st downside target would be the old support trendline again, which is around 1870 in early June. If that level doesn’t hold, then we can start looking for lower targets. Will cover this in the next weekend outlook together with my LT wave chart for June.
As always, I enjoy your posts, even though I dont trade your markets.
Without sounding too condescending, enjoy your break.
And as my wife always says when we go on holiday….
“The laptops not coming with!”
I am going to spend part of my time in Greece in the future, so it’s a combination of holiday + move + getting used to our new place.
Which is all exciting for my family and me, of course.
Still waiting for proper internet connection, so getting by with wifi for the moment.