It looks like the markets may be hitting some resistance and we have some what if monthly bearish reversals being setup for downside movement. If the markets fall below these reversals, we can get a pullback to reset and get more long positions.
NasDaq (NDX)
Watching 1455.08 —is a what if month bear reversal for temporary downside. We head below this can accelerate the downside of this market. Again, we are bullish but this market is looking to take a breather and waiting to get prepped to re load long once it gets to a nice reversal.
S&P500 (SPX)
This month may get a little high and pull back to prep for getting long. Watching 4233.13 — what if month bears for temporary downside. This gets below and we may see downside moving into June.
Long term we want to be long, but pull back is healthy as the more the market is really flight to safety as War is likely and no one is trusting the government — thus no one wants the bonds.
S&P500 Weekly Chart Below
Notice the two pink boxes below, those are the monthly and possible turn of trend to get a pull back with initial fears of war or the FOMC meeting in July.
