SPN heading into FOMC

٢٨ أبريل ٢٠٢١

Noteworthy:

• Market on edge today waiting for FOMC meeting
  
• Energy leading sector in SP 500 YTD
  

Overview:

• SPN was on a weak bearish trend that is possibly ending
  
• SPN broke weak S/R, now up against convergence of long term trend S/R and price S/R
  

Trend Continues:

• Closes through both long term S/R and price level S/R
  

Trend Assessment Wrong/Early:

• Closes beneath either long term S/R or price level S/R
  

Disclaimer
Not investment advice. Thinking out loud in a crowded room.