S&P500 market analysis June 8th 2020

Warning signals conjunction are always important to watch!

The kagi line is closing to Bollinger upper band. From there, it can go through or reverse. In any case, it is worth securing partial profits or revise stops upwards.

On candlestick chart, price is also closing to reaction line shown last week. If it goes through, there is virtually no resistance until next one. Pretty much like a plane taking off, speed is important for air support under the wings. The opposite scenario is a sliding down the reaction line but we have yet to get a confirmation before looking deeper this assumption.

Two synchronous warnings should wake up your skeptical bull mindset!

That’s it. Until next time, trade safely!

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