Into resistance 7/1/26S&P 500SPCFD:SPXJuvenalGomezThis is just a quick update on the SP500 where I'm giving out my levels and the areas that I'm watching out for! I want to see if we break out and confirm! Also I want to see if we go lower do we hold the 50 SMA again or do we lose it once more? In our previous video we did close bellow it and lost it but we never got a confirmation candle to be absolutely sure. Its also the same with the 21 SMA we had a candle close above yesterday but we haven't confirmed yet so watch out! As I'm doing this video were at major technical resistance and I have to respect that until proven otherwise per my rules. The 21 and 50 day SMA is squeezing price here but it hasn't confirmed either way yet. To me, I see more negative factors then positive factors so I remain in the camp based on past history of our bigger parallel that were sill in correction mode its just going to be very volatile. Lets be patient and wait! As this is a holiday week with the 4th of July approaching I still expect light volume as the big players are already stepping away for vacation. When the cat is away the mice will come out to play! I expect a positive to light float up these days but I want to see what happens when the big players come back are they going to resume there selling? On Monday, I still saw the same price action of before where it goes up in the premarket then they dump at the very beginning of the day still showing signs to me where they are still looking to exit. these were the same signina's I got and warned you all before the semiconductors pulled back were just not seeing it as aggressive as before so lets stay on the defensive and watch! One more thing remember its the end /start of the new month, on new months there is a little surge in money into the markets as people receive money and put into the markets weather being their 401ks or end of month pay. Also the big institutions do something called window dressing, at the end of the month where they dump their losers and pump up more of their winners so their end of month statements for their clients looks good. It's dirty but it happens folks please be aware, the proof is in the price action. We recently saw sudden price surge on light volume and then now as were into major resistance and we got news on META and now we saw heavy selling in the premarket shows something is fishy and off. ( excuses to dump into, exit liquidity)