Trading the Line

It does look like we are poised to clear the recent congestion now.

False start yesterday but nothing muuch to discuss.
It would appear that the 70 day pulse and the end of previous T structure are having effect.

Either this resolves with a push to new highs in June or we get a scary drop first.

Well, because of the bullish reversal yesterday we did not trigger a sell / cover and managed to limp into the close above the 2097 cover level.
Always worth being pragmatic on the flush down's in the mornings.

But if we gap down today, go with it.

Chop continuing and potentially a sell warning from the T oscillator.

S&P's need a selloff to recharge and clear some of the problematic resistance lines, but will we get a catalyst?

If we are going up watch to see the action at the upper bollinger c 2125, also previous all time high.

Assuming positivity today I would suggest that a new T structure is now forming, possibly even stretching out to mid june and even mid july.

start of recovery or lull before storm
trapped inbetween the bollingers and waiting for the catalyst.

Looks like we are breaking down through the diagonal support lines.

My guess is we try to recover here and then start dropping, looking for the next major low pivot.

So we had the usual holiday trade (mental note), whats next.

Not sure if this move will last much further, looks like we just keep sticking into resistance.