Hi, I'm Chris Capre, founder of 2ndSkiesForex. I'm a verified profitable trader and trading mentor. 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 18 years 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.
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.
Want More? My private members get all my trade ideas & market commentary 4x per week. Click here to become a member.