How Q2 Closes Is Important For SPX

By Candy Matheson of Strawberry Blonde's Market Summary

Blogger & Retired Russell 2000 E-mini Futures Day Trader • Jun 27, 2016 at 9:00 PM EDT

Each candle on the SPX chart in this article represents 1/4 of one year. Q2 2016 is an important candle, which will close this Thursday, June 30th, as it could be the bearish reversal confirmation candle that's needed for the Q1 candle.

Each candle on the SPX chart below represents 1/4 of one year.

Q1 2015 is a spinning top candle (indecision)
Q2 2015 is a shooting star (bearish warning)
Q3 2015 is a bearish engulfing (bearish but needs a confirmation lower close)
Q4 2015 is a bullish piercing pattern reversal candle, but such a candle is more effective after a decent drop, rather than stuck in a consolidation pattern at all-time highs
Q1 2016 is a bearish hanging man (bearish but also needs a confirmation lower close on the next candle)
Q2 2016 is an important candle, which will close this Thursday, June 30th, as it could be the bearish reversal confirmation candle that's needed for the Q1 candle -- a lower close is required

Disclaimer:

All of my posts (and charts) contain solely my own technical analyses/opinions/observations (which may contain errors or omissions) of a variety of markets and are provided for your information or entertainment only...none of it may be construed as financial or trading advice. I trade my personal account only...I do not manage a fund for other people. Please do your own "due diligence" before engaging in any trading activity.

No part of my Blog may be reproduced or copied and presented as your own material.

It is the sole property of StrawberryBlondesMarketSummary.com. The sharing of my posts, is, however, permitted, as long as the appropriate credit is duly given, and as long as they remain unaltered/unedited. To share them, however, does not mean that I endorse you or the site at which you choose to share my information (although, no doubt, your intentions are honourable).