Samlunch
05-05
$Invesco QQQ(QQQ)$  

$SPDR S&P 500 ETF Trust(SPY)$  

• Bulls lost their 📈 $SPX ONTO THE NEXT!

FOR THE WEEK, $SPX 500 GAINED 0.55%, $QQQ ROSE 1.43%, AND THE #DOW CLIMBED 1.14%.

• Starting the week bulls lost their ISLAND BOTTOM bull gap letting the bears closing lower on the day of FOMC.

• A weak NFP report which followed after Powell statement on job market weakening and possibility of it influencing their rate decision was seen as a bullish sign for rate cuts for a massive gap up for the market on Friday.

• RSI AND MACD are starting to get bullish off the neutral territory last week with RSI perking above 50 again.

• For the bulls the next possible target here is 5180 and the trendline above.

• The zone has quite a bit of resistance with the bear gap also around the corner, which will act as a strong resistance once filled and can create a possible pull back to the trendline that bulls broke on Friday.

• Sticking to the levels, breaking above 5180 and bull flagging can create an opportunity to go back to all time highs, and have to defend 5090 level.

• Bears if 5000 is broken at some point this month opens up 4800 retest possibility, this is not a weekly target.


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Comments

  • TroySwift
    05-06
    TroySwift
    RSI and MACD turning bullish.
  • keke006
    05-06
    keke006
    Keep up the good work!
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