Enlarge any chart by clicking on it.

Unless otherwise specified, ALWAYS use the 15min chart to enter my recommended plays because
CONFIRMATION is a MUST. In other words, you need to see a 15min candlestick that CLOSES beyond
the entry point, then enter when it moves 10cents after the high/low of that candlestick.

Friday, June 17, 2016

SPX WEEKEND REVIEW

Britain's referendum on whether it should exit the European Union or not (Brexit) is scheduled for Thursday, June 23rd. So it is very possible that we will see news-driven choppy price action the coming week until after the vote. So expect the market to be very sensitive to news coming out of Europe. News-driven price action is the worst environment to trade in. So I hope it is not going to be the case.
I believe Britain is going to vote to stay. If that is the case, expect a strong move up on the news and thereafter.
The good news is that this might be the catalyst the market needs to get out of this sideways consolidation it has been in since January 2015. The market just wants run up but it needs a spark because it is stuck just underneath strong resistance level.

SPX-MONTHLY IV


SPX-MONTHLY III


SPX-MONTHLY II


SPX-MONTHLY I


SPX-WEEKLY III


SPX-WEEKLY II


SPX-WEEKLY I


SPX-DAILY X


SPX-DAILY IX


SPX-DAILY VIII


SPX-DAILY VII


SPX-DAILY VI


SPX-DAILY V


SPX-DAILY IV


SPX-DAILY III


SPX-DAILY II


SPX-DAILY I


SPX-60MIN


SPX-30MIN II


SPX-30MIN I


SPY-15MIN
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