May 29, 2016

  • Weekly chart shows price moving into resistance zone. But Daily is moving into it with a possible bullish pattern an IHNS. 
  • Even if bulls get a breakout from the daily pattern the BEARISH UPPER SHADOWS OF MONTH CHART is a concern. One good thing for bulls is the number of days left for the Month candle to close. If bulls get a breakout early next week then Month candle can make the Highest Closing price in month chart for S&P 500.

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    My Favourite Quote

    "All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
    —Jesse Livermore