Hi Shoppers,

The S&P 500 Emini Futures have been trading mostly sideways with a downtrend bias creating lower highs and lower lows:

Zooming out, as long as we hold our pitchfork bottom support we are still in an overall uptrend, that hasn’t changed yet.

We begin to trade below $6700, then we will trade down to the 200 day moving average on then $6555.

On the upside, we have a pretty powerful headwind of resistance with the downtrend line going back to the highs of Jan28 converging with the 20 and 50 day moving averages.

I would say we clear that area, $6900-$6933, then we rally back to $7023.50.

A quick pick at the crude oil chart:

The previous high of $77.37 is holding at the moment with support at $70.36.

It isn’t too late to join us virtually in Palm Beach! Lots of trades! Lots of fun!

Have a fabulous day!

Thank You For Reading … See You Next Tuesday,

Licia Leslie