TradvingViewChartScreenshot

In a folllow up to our previous blog post regarding the weekly 8 on the Nasdaq, you can see from the above screenshot that SPX just completed its 8 of 9 candle for a TD Sell Set Up.

The Bull case:

  • Weekly 9 candle makes a higher relative high next week during week 9 of the series (marked orange line)
  • June manages to close its candle higher than 2713 which would break the current TD Buy Set up series (started back in March).
  • July Monthly trades higher than June (would be candle 2 of a TD Set Up series) setting up bullish environment for remainder of year.

Bear case:

  • 2802 relative high isn't surpassed and the weekly 9 turns into a reversal candle...calling another top for SPX.
  • Weekly 9 reversal candle sends the June candle closing below 2713.
  • 5 more months of SPX downside/sideways action until completion of the TD Buy Set Up series.

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6/9/2018 7:00:00 AM

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