Monday June 17

Morning everyone. Thought I would start us off today as I think @5speed has given up.

Monday, June 17, 2019

XJO closed at 6554 on Friday.

US markets down on Friday. Dow Jones down -0.07% (17.16 points) Nasdaq down -0.52% (40.47 points) and S&P 500 down -0.16% (4.66 points). ASX 200 Futures up 3 points to 6557, hitting a high of 6563 and a low of 6532, a range of 31 points.

Trends:

Weekly – Uptrend, nearly highest point, could see some consolidation.
Daily – Uptrend, nearly highest point, could see some consolidation.

4H – Looks like we’ve hit the peak at 6560, has been flat.

1H – Has been flat around 6560 levels, looks about ready for consolidation.

30m – Sideways – currently about in the middle.

15m – Sideways/slight downtrend

5m – Uptrend, looks like resistance around 6560

1m – Uptrend, looks like resistance around 6560

Today looking like it should be mostly flat, but may have a small increase. Currently overall most indices looking green for the start of the week. I think the market will have difficulty pushing much higher than 6575, so that’s my initial resistance level. Look for long opportunities starting at 6550, increasing volume if it goes lower. Shorting the preferred position at this stage, look to start shorting around 6570 increasing in volume every 5 points or so (use technical for opening positions).