“Those who have knowledge don’t predict. Those who predict don’t have knowledge.” Lao Tzu, Chinese philosopher, 6th century BC


Thursday, 16 June 2016

16 Jun 2016 - EOD

Price closed above the 75 day MA of 2061 which indicates good support at this level.  The candle is also a reversal candle with a bullish engulfing body.  Price low respected the trendline set by the Sept 2015 low and the May 2016 low.  Intra day proved the positive divergence to be true and price rallied.  The ES is performing another possible reset for a downside bias, but the SPX has not shown the same sentiment.  Will have to wait for tomorrow to see what the signals says overnight.  If the intra-signals crosses down at the open tomorrow then the SPX will get its reset, but if not the rally should continue higher.

SEN: Bullish

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