To The Moon

$S&P 500(.SPX)$ $NASDAQ(.IXIC)$ $Apple(AAPL)$ $Tesla Motors(TSLA)$ $Amazon.com(AMZN)$ $Alibaba(BABA)$ 

Session of Friday, May 20 OpEx:

The S&P 500 index was on the verge of closing in bearish territory, until a last-minute rally.

A 20% decline from recent highs was being watched by investors, which would put the index around 3.837 points...

Finishing below this level would have officially placed the S&P 500 in a bear market...

Indeed, after crossing this threshold in session with a trade at a low of 3,810.32, the index rose again in the last hour of trading to close at 3901.36, up 0.01%. on the day.

 Market watchers could use this closing level to conclude that the market has avoided entering a bear cycle...

Weekly, the S&P 500 closed down 3.05% bringing the longest streak of decline since March 2001, when the market fell for eight consecutive weeks, according to Dow Jones Market Data.

The Nasdaq Composite fell for its seventh straight week, matching a streak also set in March 2001.

Technically, the S&P500 could establish a double bottom...[Glance] 

But all this remains very vague and ambiguous...[Smug] 

Let's remember this:

Now, with the expiration complete, the market could incentivize a rally through the end of the month amid rebalancing...

However, we remain in a simplified market context, short gamma and low liquidity, we must expect violent movements on both sides.

The following scenario remains relevant:

• 4000, remaining the most important level in the range with only 3900 and 3800 on the downside and 4100 on the upside being the next levels to watch.

Thanks for reading.

@Do_Trading