S&P 500 E-mini Futures 29th June 2020 Report

S&P 500 Primary & Weekly Cycles

S&P 500 Supported right on the 2020 50% level at 3007

If looking for a Short, the Weekly 50% level from the 1st of July at 3065 is worth a shot.

If it breaks the July 50% level and Weekly lows, Sellers will HIT the S&P sending it back down into 2637

Bullish pattern would be a move down into the July 50% level, consolidate for 5 days and then break the 5-day highs the following week, as it goes looking for the JULY & 3 Quarter highs

NOTE - there are 3 support zones (Weekly lows, JUNE LOWS, July 50% level)

It's either Robust Support, or a valid break.

What it does, BITCOIN will follow

S&P 500 - Emini Futures 13th June 2020

S&P 500 Primary & Weekly Cycles

Next week's Weekly highs at 3153 will be a massive resistance level to begin with, and if it does go as high as 3153, there will be lot of shorter's trying to push it back down into 3007 and the Yearly 50% level.

It will be the week after next that we decide if S&P 500 is back into a BULL MARKET Trend (above 50% level)  - previous report

We saw a lot of selling this week, but not enough to turn us into Bears, even though the economy is awash with extremely negative news

Unless it's below 3007 the bias is up towards the 2020 highs, which matched the 3 month highs in July.

Do I want to be BUYing the market here?

Not really, because it can turn quickly and be back down to the 2020 lows at 2637 in a blink of an eye.