SPY outlook for NFP
See Mark-ups.. you can correlate with SPX500:
The SP500 continues to look incredibly strong week by week, especially after last weeks
re-test of 4050-4060 leading to a massive rally to the top of the micro trend.
If the SP500 can manage to break over 4200 officially this week, there is no resistance
above until 4250/4300.
4300 remains an incredibly key level, and until this level is broken the SP500 will not be
in a macro uptrend.
If the SP500 can break over 4300 in the coming weeks or in the near future, expect a
major move higher to 4350/4400/4450/4500 and potentially higher.
For the bears, if the bears can push the SP500 back below 4050-4060 this week or in the
future, this would open the door to lower targets of 4000/3950/3900/3850/3800.
As long as the SP500 remains above 3800 in the short term, the micro trend will remain
bullish
See Mark-ups.. you can correlate with SPX500:
The SP500 continues to look incredibly strong week by week, especially after last weeks
re-test of 4050-4060 leading to a massive rally to the top of the micro trend.
If the SP500 can manage to break over 4200 officially this week, there is no resistance
above until 4250/4300.
4300 remains an incredibly key level, and until this level is broken the SP500 will not be
in a macro uptrend.
If the SP500 can break over 4300 in the coming weeks or in the near future, expect a
major move higher to 4350/4400/4450/4500 and potentially higher.
For the bears, if the bears can push the SP500 back below 4050-4060 this week or in the
future, this would open the door to lower targets of 4000/3950/3900/3850/3800.
As long as the SP500 remains above 3800 in the short term, the micro trend will remain
bullish