The S&P continues to show a bearish market. The S&P has tried the 1600 level several times. This may be a double top. Due to the time of year, a reversal is anticipated.
The pivot points were not a clear method today to show an entry and exit strategy.
Even the Squeeze was not successful in identifying a good entry level either.
Looking at the Ticks really shows that the market was in an uptrend early. That should have said go long. I will also add the TICK to the mix of indicators to show that something may be trending. It shows early in the day that the market was going up.
| Week | Monthly | ||
| 26-Apr | April | 2-May | |
| High | 1588.25 | 1594.25 | 1594.25 |
| Low | 1542.75 | 1530.75 | 1578.75 |
| Close | 1576.75 | 1594.00 | 1592.5 |
| R3 | 1641.25 | 1678.75 | 1613.75 |
| Mid | 1628 | 1657.63 | 1608.875 |
| R2 | 1614.75 | 1636.50 | 1604 |
| Mid | 1605.25 | 1625.88 | 1601.125 |
| R1 | 1595.75 | 1615.25 | 1598.25 |
| Mid | 1582.5 | 1594.13 | 1593.375 |
| Pivot | 1569.25 | 1573.00 | 1588.5 |
| Mid | 1559.75 | 1562.38 | 1585.625 |
| S1 | 1550.25 | 1551.75 | 1582.75 |
| Mid | 1537 | 1530.63 | 1577.875 |
| S2 | 1523.75 | 1509.50 | 1573 |
| Mid | 1514.25 | 1498.88 | 1570.125 |
| S3 | 1504.75 | 1488.25 | 1567.25 |
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