DOW S&P 500 Monthly
900 point down move over 30 minutes into major support levels.
Slightly suprised it would do that in 30 minutes, but not surprised in the move down into support levels...
As mentioned a few weeks ago...(17th April)
"The UP trend won't continue until the start of the next month after revisiting the MAY 50& levels
# moves down into the MAY 50% level and then continues higher.
# follows a double monthly low move into major support levels and the Quarterly 50% levels.(Yellow)
Don't discount this, because the US markets will revisit the 3-month lows during the year and it hasn't as yet. "
There was a breakout of the Weekly lows yesterday, which means a trending week into a lower Friday close (random length), and this has seen the market hit the monthly lows in MAY & Quarterly 50% levels
That completes a major reversal down into support levels, and most likely double bottom in June.
- Daily Trading Set-ups & Analysis
Posts
