03/27 – 03/31 S&P 500

SPX     SPY

As you see in the charts of SPX and SPY last week we broke this trend putting a Lower Low(LL) first time since 11/09 when Trump was elected as president of US. From now we are bearish until market will make a new HH.

The prior pivots for trading this week are 2382 and 2335.74 on SPX (237.50, 233 for SPY ) which are also the highs and lows on weekly chart of the last week. As long as SPX hold below 2382, stay bearish and watch for follow through to clear 2335.74 and after to 2300, trading weak sectors/stocks. If bulls build up power and broke 2382, see if they hold above and watch for follow through to 2401 on SPX ( 240.32 for SPY), trading strong sectors/stocks.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s