SPY SPX S&P 6.17.20 Forecast (Bull & Bear Scenarios)
For most of today the trend line played jump rope with the VWAP after the gap up on the 1D 1m Chart.
The candles are consolidating for another move but to which direction?
The last 1h Chart candle was a Doji before market closed so this neutral indicator doesn't give me much direction; Although 3M chart still maintains its Long 3-Month Bullish trend
The MACD looks Medium-Rare and the Ceiling is 312.
Look for lower highs and higher lows if you're a Bear.
It's gotta escape from the Pitchfork/Trident
Look for lower lows if you're a Bull; I'd like to see one more retest of floor via Friday's Highs before filling the Island Gap up above to cancel the previous dip into the sub-300 territory.
The candles are consolidating for another move but to which direction?
The last 1h Chart candle was a Doji before market closed so this neutral indicator doesn't give me much direction; Although 3M chart still maintains its Long 3-Month Bullish trend
The MACD looks Medium-Rare and the Ceiling is 312.
Look for lower highs and higher lows if you're a Bear.
It's gotta escape from the Pitchfork/Trident
Look for lower lows if you're a Bull; I'd like to see one more retest of floor via Friday's Highs before filling the Island Gap up above to cancel the previous dip into the sub-300 territory.
If we don't see a higher highs and fill the gap above soon, the bears might be getting more control.