SP500 (04/06/2020) - "Sucker's game" Monday

SPCFD:SPX   S&P 500 Index
+ Oil deal is delayed till Thursday for further notice
+ Weekly unemployment claims will be reported on Thursday (04/09/2020)
+ People are expected to receive their checks at least 2 weeks delay.
+ Banks are not ready for taking loan applications which include PPP and SBA.
+ Trump deployed 1000 military personnel to NY.

Monday will open high as a part of the head and shoulder pattern. We are in a small buying zone, after this one we will expect a drop .
If the price break the pink line. We will expect a failed head and shoulder pattern, the stock will continue to rally for the rest of the day.
RSI is at the medium: 50/50.

Good luck.


Since it's broke resistance, you think it'll go up much?
SPX is still hitting its head on the 200 week MA, not getting any higher than at the open.

Yeah, I'm staying short.
+2 Reply
Good Job
+2 Reply
hi, so the initial assumption seems to be you think we are going up ? thanks
LagunitaLLC nataliaj2007
@nataliaj2007 if it breaks blue then yes, it will go up hard. Otherwise, no.
At 258 right now, are we waiting to see if it hits the blue or pink line?
LagunitaLLC Michael_Jaxson
@Michael_Jaxson next one this blue line
Thanks for your analysis. It seems that the FXCM:SPX500 already broke the pink line... Does it mean it's going to be a rally?
LagunitaLLC Aurelie217
@Aurelie217 yes. I didn’t see you comment, but yes
If the head and shoulder pattern is failed it means it’s trend reversal and will continue to go up?
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