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Ronald_Ryninger

SPN heading into FOMC

S&P 500 Energy (SP:SPN)  
Ronald_Ryninger  
SP:SPN   S&P 500 Energy
Trend Analysis Technical Indicators
3
0
trendanalysis indicator
Noteworthy:
  • Market on edge today waiting for FOMC meeting
  • Energy leading sector in SP 500 YTD
Overview:
  • SPN was on a weak bearish trend that is possibly ending
  • SPN broke weak S/R, now up against convergence of long term trend S/R and price S/R
Trend Continues:
  • Closes through both long term S/R and price level S/R
Trend Assessment Wrong/Early:
  • Closes beneath either long term S/R or price level S/R

Disclaimer
Not investment advice. Thinking out loud in a crowded room.
Checkout my free weekly market updates on substack!
ronaldryninger.substack.com
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