SPY/QQQ Plan Your Trade For 6-19: GAP Reversal Counter Trend

Today's pattern is a GAP Reversal in Counter Trend mode. I believe this could represent a breakdown in the ES/NQ as the US stock market is closed for the Juneteenth holiday.

Obviously, after the Fed comments yesterday (stating "uncertainty") and with the continued Israel/Iran conflict playing out, it makes sense to me that the US markets would move into a pre-weekend consolidation phase.

Even though the US stock market will be closed, the futures market will likely stay open and will carry some general market sentiment and reactions to news.

Watching Gold/Silver and Bitcoin should be very interesting today. I suspect the markets will continue to consolidate downward today - leading to a potential breakdown seeking support day on Friday.

Buckle up. We'll likely have 3-5+ days of news related to the Israel/Iran conflict and other issues over this weekend. It could be very interesting to see how the global markets move through this news.

Get some.

Happy Juneteenth

#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #gold #nq #investing #trading #spytrading #spymarket #tradingmarket #stockmarket #silver