Daily and Weekly analysis on S&P 500 by ThinkingAntsOk
Use this as a guide to develop your own setup
Main items we can see on the Daily chart
a)The price is against the broken descending channel
b)The price is against the upper trendline of the corrective structure
c)This two levels combined creats a good zone for reversals
d)We can see a low volume on the bullish movement, using Wykoff theory, than can be read as a lack of interest for the bullish movement
Weekly Chart:
Main items we can see on the Daily chart
a)The price is against the broken descending channel
b)The price is against the upper trendline of the corrective structure
c)This two levels combined creats a good zone for reversals
d)We can see a low volume on the bullish movement, using Wykoff theory, than can be read as a lack of interest for the bullish movement
Weekly Chart:
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