S&P Market Analysis & Key Levels 05/07/17

Weekly Key Levels

Our S&P Market Analysis has stayed the same for the past few weeks, because the market has been the same. We do not expect a move outside of the norm this week. Expect some resistance this week, but it will be very interesting where that resistance takes place at. If price does break above 2410 SPX then watch for 2420-2425 SPX. That is if the market decides to become stronger. A break below 2390 SPX would signal a larger pullback.

This week should be an interesting roller coaster of a week. We are sure that there will be some great setups since the market is at a crux. We are looking at Tuesday or Wednesday as the most important days of trading, but that can change. It is not prediction that gives us profit, but a clear plan that is adaptable. A great trader is someone who moves with the market. Moving without the market is someone who probably loses money. That is why it is extremely important to analyse the market rather than predict it. If you view the market like you view a horse race then you have already lost. You must view the market like a great game of Go or Chess.

Sun Tzu’s philosophies have been used by Alexander the Great to General Schwarzkopf to many other successful people, and it is because his ideas work. Trading is all about achieving greatness and being able to increase the quality of your life, so if you are striving for success in your trading and are unable to obtain it then give us a call for a free consultation.

If you enjoy the analysis we have a trading course that goes over analysis and how to spot trade setups off of that check out our Trading edge course.

Entreprenuer, Trader and Philanthropist

Matt Dye, Founder of ABusinessWithTrading, is a professional trader who specializes in trading price action. His mission is to empower traders through education, and every month attracts readers across 50+ countries. To discover more about Matt’s Price Action Strategies, visit his Trading Courses page.