Stock Index : SP500 Index
Current Price : 2352
Status : Sellers stacked up, watching for Buy entry setup
The SP500 has been contracting since mid march and all the while dragging in the sellers. We see the sellers have loaded up and greatly out weigh the buyers so there is plenty of fuel for a short squeeze. We expect to see the 2341 support zone hold up then higher lows to build for a buy entry setup. There may still be some work to do but we are expecting a squeeze and for sellers to be caught off guard.