S&P Mini-Futures/SPY: 5-14-07: Analysis

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  • S&P Mini-Futures/SPY: 5-14-07: Analysis

It seems like the bullish momentum is finally slowing down. Look at the 5/35 Osc in the chart below. Also, the bearish crossover between the Kijun Sen/Tenkan Sen has occurred giving us our first bearish indication. We need the Chikou Span to go bearish so it will tell us to now look for a bearish entry trade. The Chikou Span may go bearish in 1 or 2 more days.
The seasonal chart shows that a typically a bearish month until 5/26. Our price action this year is a little lagging behind the seasoanal trend but it still has been following very closely to the pattern.
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