Major resistance on the weekly.
Daily chart has multiple support.
What caught my eye is is giant wick on weekly chart and then a closing of bullish candle. Signs of bull strength.
That being said it is best to look for longs this week.
I wouldn't be surprised to see a giant bearish wick closed on the weekly chart due to all that resistance.
So looking on...
The volatility on the monthly chart in recent months have been quite crazy. It looks like a giant coil that has been compressed..
We are now @ critical point it looks very likely that the S&P will resume its downtrend move for the next coming months.
June-July timeframe could be massive.
Use the screenshot below to adjust the scale:
Cheers,
Keops
