I am no longer bullish on the S&P 500 as of today because of a profit taking zone as seen in the 5 min chart. As per my last blog post that the S&P 500 has a last and final base built, this could be it. Look at the last rally straight before my circled range, that could be the last bull run.
http://stockmarketmindgames.blogspot.sg/2016/05/s-500-final-base-built-be-alert.html
In the near term, I expect either sellers to come out or it maybe in a whippy range without much directions. I will be sharing more of my analysis tonight and if you are interested to join my newly created forum, do request to join.
http://www.facebook.com/groups/stockmarketmindgames
Ronald K - Market Psychologist - A Stock Market Opportunist
