' Bullish One Day Reversal / Important Closing Support @ 2870
S+P 500 staged a Bullish "One Day" Reversal on Friday 5/10
trading lower than the previous day, but closing higher than the previous day's high.
The Bullish "One Day" Reversal
calls for a continuation of the upside price movement,
more often than not, in the following day's trading activity,
which would be on Monday May 13.
Important Closing Level Support for the S+P 500 now rests at 2870,
so as long as the S+P does not violate 2870, the daily bullish reversal
will become more significant, as time passes.
As shown here the Indicator Box
the "Know Sure Thing " Indicator has Confirmed the Buy Signal, in the S+P 500,
and is shown on the chart clearly breaking out to the upside.
A Caveat:
Any kind of renewed bearish price activity,and a close below SPX 2870
next week, which is Option's expiration, would in turn negate,
the bullish reversal, at the end of this week,
and that in turn would be an extremely bearish event.
THE_UNWIND
5/11/19
NEW YORK
trading lower than the previous day, but closing higher than the previous day's high.
The Bullish "One Day" Reversal
calls for a continuation of the upside price movement,
more often than not, in the following day's trading activity,
which would be on Monday May 13.
Important Closing Level Support for the S+P 500 now rests at 2870,
so as long as the S+P does not violate 2870, the daily bullish reversal
will become more significant, as time passes.
As shown here the Indicator Box
the "Know Sure Thing " Indicator has Confirmed the Buy Signal, in the S+P 500,
and is shown on the chart clearly breaking out to the upside.
A Caveat:
Any kind of renewed bearish price activity,and a close below SPX 2870
next week, which is Option's expiration, would in turn negate,
the bullish reversal, at the end of this week,
and that in turn would be an extremely bearish event.
THE_UNWIND
5/11/19
NEW YORK