Visualizing SP500 Weekly-Monthly-Quarterly Range Supp & Resist

Using the E-Mini S&P500 front month contract, I have made this chart to show the different time frames and how the market is reacting to multiple-time-frames.

What you are looking at here is the range of the 1st quarter projected up and down from the close of the 1st quarter. The triangle point is the middle of the range and a reference point for resistance (see 2134) and support (see 1987 lower "point" for the gray triangle). The mid-point of the quarterly range stopped the current advance to the point.

The next level of analysis is the Monthly Range Support and Resistance and that is marked by the YELLOW/ORANGE triangles. That is the month of May added and subtracted to the close of May. The mid-point, as you can see, stopped the current decline.

I have also included "weekly range" support and resistance using the purple triangle. The weekly lower mid-point provided the low of the current decline on Monday and Tuesday.

Fascinating "VISUAL DISPLAY" of weekly-monthly-quarterly support and resistance.