Possible bounce as early as Monday 6/3

ping pong to frustrate traders at the top

without giving away too much here, traders in the chat room are perfectly comfortable with what is happening in the market  we have a lotto ticket on the short side into the summer. 1593 was our target for the bounce.  And now, if we break 1578, then we'll see 1573, and then 1563.  Thereafter, we scalp long again to grab another lotto ticket.

 if you are interested in finding out more, click on the link below to join the free chat room.

https://hall.com/invites/38ad415e6b

Top may be in.

shorting the bounce as long as 1580 does not break.

bounce as early as tomorrow or wednesday.

smart money sentiment fell below 50%.  maybe one more down day tomorrow and then pump up by wednesday.
price i'm watching are 1552>1545>1539. 

fall below the bottom channel and then bounce up to 1579.

Retrace and then pump again

On monday, the down trend did not continue per Gann's 3.5 days from the recent top.  We saw +divergence on our charts.  Since then, smart money p/c sentiment climbed to 100%.  It never fell below 50%. 

Today, people in the chat room saw negative divergence on 10min chart, so we waited and went short at 1573.  This after some people in the chat room going long from 1539.  Support at 1562 and at 1556.    If you missed going long last Friday, we should have another opportunity in coming days which will catch everyone off guard.

Smart Money Sentiment above 80%

Yesterday was 1 year anniversary of 2012 high and we closed at 1570 to post highest close ever for SPX.  Today, we pulled back to 1549 and closed above 1553.  Minor uptrend channel has been broken. However, larger uptrend trend channel is still in tact.  Smart Money sentiment is still showing above 80%, which is still bullish until sentiment is broken below 50%. 

McClellan Oscillator is showing oversold, so we may bounce tomorrow.  In the short term, I'm watching 3.5 days from yesterday's high for a change in minor trend.  It may become a beginning of a major trend, so that would be Monday.

My Swing system

Chart below shows that the market favor the bulls.  So going forward, I won't be posting too many charts.  Whenever, Smart Money sentiment reads zero, I will post it that night.

Topping is a process.   Bottoming is an event.