Here is a look at the key levels for the S&P going into the trading week of Jun 6th - June 10th. The levels above the current price are expected levels of resistance. The levels below current price are expected levels of support. Price starts the week inside the Neutral and just below the 55 ema. If price can move above the 55 expect move up the top of the Neutral box at 4296 is possible. Above that the next level would be the 786 fib retracement. If price breaks back down through the bottom of the Neutral box look for the 9/21 ema cloud to provide support. Below the ema cloud a move back to the green box is possible.
The economic schedule is light this week, but Crude Inventories come out on Wed and the CPI data is reported on Friday. Both can move the market especially CPI.
Sending out lighter versions of my usual weekend posts as I reassess my content. It doesn't appear to be gaining much traction in the way of interest. Given that it is very time consuming I am looking at ways to streamline things. Perhaps people can comment on what info they find most useful.
The economic schedule is light this week, but Crude Inventories come out on Wed and the CPI data is reported on Friday. Both can move the market especially CPI.
Sending out lighter versions of my usual weekend posts as I reassess my content. It doesn't appear to be gaining much traction in the way of interest. Given that it is very time consuming I am looking at ways to streamline things. Perhaps people can comment on what info they find most useful.
Comment:
Similar to the Nasdaq price has been consolidating below the 55 ema. Now at the bottom of the short term range. Resistance is the 55 ema and support is the top of the LTF Neutral box. If price falls below the top of the LTF Neutral expect move to the bottom of the LTF box. Below that the May 20th low would be in play.
Comment:
Sideways chop just like the Nasdaq. Market is may be waiting for the CPI data tomorrow to choose a direction.
