Above screenshot is a snapshot of the Monthly TD situation for SPX.
- Weekly 9 makes new relative high above marked orange line (2802ish)
- June follows by closing above red line (2713) leading us into a Green 2 in July for the Monthly count and a likely continued bull market rally
- Weekly 9 fails to make new high above orange line (2802ish) turning into a bearish reversal candle
- June closes below red line (2713)
- 5 more months of downside to complete TD Buy Set Up series. (likely falling to at least 50 MA around 2235)
6/9/2018 7:00:00 AMAffiliates