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Where is the next turn ?

Market was extremely choppy in last two weeks. Will that continue ? I think there are more down side risk than up side !! due to following reasons

1. In SPX intraday chart, showing a Head and Shoulder pattern. Pattern is not valid until price break down 1332. It can happen in next week.

2. VIX is in supporting area (15-17) . Upper resistance is 26

3. Dollar (/DX) is going UP ( when dollar UP equity will go down)

4. Copper is a leader of $SPX, which is going down.

If Market is going down from Monday, good support will be 1300. and Next turn could be June 6 TH. (Moon Cycle)



HhhhMMMMMMM...

Well said, What .. if more buyers show up and bears are hesitate to sell this market ? !!

In daily $SPX, now price is in diagonal support. If more buyers show up next up side resistance is 1370. If that happen, Market will be more bullish and see higher highs and lower lows..


My Bullish Bets :PCLN,ISRG,CMG,MA,NFLX,IBM,CF,SINA,SOHU,SLV,NKE
My Bearish Bets :GOOG,GS,SPY,FSLR,AEM,X
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