May 29, 2016

SPY Weekend update

  • 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.