S&P Having A Weak June
The S&P 500 was held at the $4,000 round number zonal area of support.
We did witness a little strength to the upside, but the previous support from
February 28th 2022, at $4114 turned to resistance and prevented price
from climbing higher.
Price hit this level of resistance and has since displayed weakness and an
impulsive move to the downside unfolded. Thursday's move was bearish,
and Friday opened with a gap down and closed with a big bearish candle.
We will have to see how this week pans out, but we can expect to see the
weakness continue, at least for the short term.
There is plenty of uncertainty in the markets right now, and the best position
to hold is standing aside. Opening positions only when there are clear trends
in play is the simplest way to extract profits from the markets.
If you like enjoyed this post, make sure to like, and follow for more quality content!
If you have any questions or comments, comment below. We reply to every comment!
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
We did witness a little strength to the upside, but the previous support from
February 28th 2022, at $4114 turned to resistance and prevented price
from climbing higher.
Price hit this level of resistance and has since displayed weakness and an
impulsive move to the downside unfolded. Thursday's move was bearish,
and Friday opened with a gap down and closed with a big bearish candle.
We will have to see how this week pans out, but we can expect to see the
weakness continue, at least for the short term.
There is plenty of uncertainty in the markets right now, and the best position
to hold is standing aside. Opening positions only when there are clear trends
in play is the simplest way to extract profits from the markets.
If you like enjoyed this post, make sure to like, and follow for more quality content!
If you have any questions or comments, comment below. We reply to every comment!
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
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