SPX500USD
SPX500USD 2021 JULY 05 WEEK
New high achieved. Last bar closing on the low.
We will wait for Monday to see if this is mark down for buying or SOW.
Weekly chart : Weakness - shortening of thrust, diminishing volume as price advances
Daily chart : No significant weakness observed.
H4 chart: Last bar is an Upthrust. Wait for Monday to show us if this is mark down for buying or
if this is weakness.
Strategy:
1) If Upthrust for further buying: price goes below UT bar, wait for reversal price action or intermediate support to buy
2) If Upthrust is sign of weakness: Wait for price to come down, return to test the high and price rejection to short.
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Have a successful week ahead in whatever you do.
