Based on reading the 1 hour and 5 minute chart for the S&P 500, I expect some selling from the index since it had risen quite some time ever since the Brexit. The index is also approaching the selling zone as highlighted above and a sell down will happen in the coming days. What I see now is that the buyers are getting tired while the sellers are gaining traction on it's selling activities. I will be sharing more on my outlook later to a group of traders. I will share more on the strategies and tactics on how I use simple charts to analyze the S&P 500.
Ronald K - Market Psychologist - A Stock Market Opportunist