S&P Micro Futures Forecast for 7/2: Monthly, Weekly, and Daily Analysis Using the Bob Kendall Indicators
As we enter a new trading month, it's time to analyze the S&P Micro Futures using the Bob Kendall indicators. Given that July starts with a short holiday week due to the 4th of July, we can expect lower trading volumes and potential range-bound movements. Let's dive into the monthly and daily charts to outline support and resistance levels for the upcoming trading sessions. Monthly Chart Overview PPMs Analysis : PPM 1 and 2: Both are above their derivatives and remain in trend mode (>0.25), indicating strong long-term support. PPM 3: While still above trend mode, it is starting to pierce its second derivative, which could test its positive slope. Key Support Levels : 10MA: Long-term support at 5124. Weekly Chart Analysis The market grid is starting to flatten out, which suggests potential range-bound trading for the week. Support Levels: 10MA at 5418: This level provides strong weekly support and maintains a 0.62 level on PPM 1. S1 and S2: Strong support at 5501 and 5478...