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

Want More? My private members get all my trade ideas & market commentary up to 3x per week. Click here to become a member.

Verified Profitable Trader

Hi, I'm Chris Capre, Founder of 2ndSkiesForex. I've turned $3,000 into $83,000 in my first 6 months of trading. I'm a verified profitable trader and trading mentor. I help traders of all levels change the way they think, trade and perform. As a professional trader, I specialize in trading price action and the Ichimoku cloud. As a trading mentor, I have one goal: to change the way you think, trade and perform using 18yrs of trading experience and cutting edge neuroscience to wire your brain for successful trading. Want to improve your trading edge and mindset? Check out my trading courses here.

Related Article