05/01 – 05/05 S&P 500

SPX         SPY

The prior pivots for trading this week are 2401 and 2369.19 on SPX (240.32, 236.50 for SPY ) which are also the highs and lows on weekly chart of the last week on SPX. Don’t get too bullish until SPX broke and hold above 2401 , also we are little overbought so be cautious if it goes too fast on the upside.. If bears build up power, broke and hold below  2369.19, watch for follow through to 2323 on SPX ( 232 for SPY), trading weak sectors/stocks.

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