S&P Monthly and WeeklyS&P continues to consolidate above support levels @ 1324.50, after finding support around it's Weekly lows earlier in the Week.
We saw a similar patterns in March & April, and on both occasions Friday had closed above the Weekly 50% level, and the trend continued upwards...
However, this week failed to close above the Weekly 50% level, to help validate the same pattern.
Based on the current price action, the S&P could be following a double Weekly low pattern into next week's lows @ 1311, as the market consolidates into the start of June.
