After a turbulent April, markets came alive in May — especially after key numbers came in and the market seemed to interpret greater odds that the Fed would lower interest rates.
All three major indexes have even made all-time highs over the last few days.
But the SPX has been bumping its head on a key level and Jeffry’s warning that this could be the last hurrah before a big flush out.
Among other things, Jeffry tells us that the candles with wicks indicating rejection are a concerning sign:
It’s as if the market has tried to break through and is encountering major resistance.
He gives us a key support range to watch, between 5060 and 5150.
If markets can’t hold that level, he’s drawn a big arrow indicating odds are that we’ll hit the 4700 range.
Get Jeffry’s full analysis on yesterday’s Morning Monster starting right at the top of the show.
— The Prosperity Pub Team
