Addendum To: For Those That May…

After the close of today’s “markets” I decided to do one of those “pictures” so many ask me for as to show in chart and technical form what I’m watching, and what I referred to earlier today, so here it is. It’s of the S&P 500™ represented using 15 min bar/candles. I’ve notated it and it’s pretty self explanatory even for those that may not be all that “technically” astute. To wit:

(Chart Source)

What should jump out at you is the amount of opening gaps over this month. This is one of the usual features when volume is all but non-existent and the futures can be pushed either way in the overnight to help “nudge” as they say, a desired outcome. Hence, the “paper cup” designation.

Another striking detail (again, all conjecture) is when this phenom is usually present, the seemingly magnetized adherence to text book lines of support and resistance, along with Fibonacci measured metrics being hit and settling near the obvious big round numbers (e.g., 2900) seems to make things a little too obvious – because what usually happens next is, when the positioning of month’s end are through? All h#ll seems to break loose shortly thereafter.

Will this be the case? Remember: anyone who tells you they know for sure, my advice is to not just walk away, but run and fast, because no one does.

However, with that said, if we suddenly find ourselves within that circle in the lower right? That should provide the first true ‘Uh oh!” signal.

As always, we shall see.

© 2019 Mark St.Cyr