S&P500 daily update

Follow thrugh yesterday hit the short-term stop at 1939 and sets up for a re-test of the high
(if my analysis of the longer T structure from 2nd march is correct)

Found support on the first rising trendline from but if this fails there is stronger support at 1920 and then 1905.

The oscillator remains high and I do not expect a full Sell signal to occur until after June 20 expiration.

CCI short-term stop / sell signal.
Wait to see if it is confirmed by price (below 1939).

Projection is sideways / slightly upwards into June expiration – keep an eye on support from rising trendlines.

Now looking for a sideways / downwards move and test of 1930, followed by a re-test of the high.

It appears that R2 resistance line held yesterday and so the pause is now on.

I am expecting a short drop to perhaps 1929 and a second attempt at 1960 to coincide with expiration week.

A holding pattern until end of the larger T structure, and then we see if we get a sell signal.

altitude sickness?

Having punched up through R1 to R2, a pause and pull-back to the rising trend-lines would make sense.

The blue T structure expires now so we should or could see a negative effect here, and the recent move – 11 up days in 12 – has a parabolic s curved shape.

This move certainly took me by surprise, so I expect more surprises.

If we don't get the pause here then expect a move to 2000.

We are at the end of the blue T structure.
RSI 14 above 70.
RSI 2 above 97.
Within R1 and R2.

A quick drop and then subsequuent rally to 1950-60 makes sense now.
If not we are heading for 2000.

Target 1929 acheived. Next potential stop at 1938-9.

Close to the end of the blue T structure.

Looking very strong but toppy.

Starting to consolidate in the 1915-1920 area.
Oscillator levelling off. CCI dropping off.
Close to the end of the blue T structure.

A close below 1914 would be suggestive of a move back to 1890-1900 for a re-test of the breakout.

Or we power on with QEeasy money into the 1950's. hmmm.

Found support, so we are still fine going up into R1, R2

and so presumably we continue upwards into the R1 and R2 resistance levels 1930-1950 until perhaps the 4th or 5th June when the negative effects of the small recent T and/or the April 11 T start to have an effect.