S&P 500 – Major Resistance Ahead, Watching the Price Action | Jul 6

S&P 500 – Attempting to Make All-Time Highs (weekly chart)
For the last 1.5 years, the S&P 500 has been ranging between 1800 and just north of 2100 in a large balancing zone and corrective structure. I certainly wouldn’t want to be a buyer here being so close to the all time highs and having < 10 weeks closed above 2100.

Hence this is an interesting trade location for offers being the lack of price action above.

For now I’m bearish ST while below 2145 on a daily closing basis while MT bullish while above 1800 on a weekly closing basis. Hence play both sides of the market till a weekly close outside.

sp500 price action chris capre

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I'm Chris Capre, Founder of 2ndSkiesForex. I help traders of all levels change the way they think, trade and perform. As a professional trader, I specialize in trading price action. As a teacher, my passion lies in showing you how to re-wire your brain for successful trading. Want to improve your edge right now? Visit my Price Action Course page.

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