Replies to post #13 on S&P 500 price levels to trade

[rimshot]

ES 30min, 60min, 240min chart interpretation based on price action since the Sunday evening open and since all of last week:

my interpretation now as of 1:21 pm eastern time June 12th using the continuous contract ES chart:

* nothing more can be confidently stated other than the horizontal trading-range and consolidation pattern exists since yesterday's close and including today's overnight session and day session price history

*** until ES advances and actually holds a horizontal breakout above the ES $1315 to $1316 levels, the range-bound nature of the price action is simply that, and no other directional clues exist which I personally consider valid or reliable

yes, guesses are possible, but nothing in the chart is next considered a "chart event" with potential staying power until:

1. a continued and sustained advance back above ES $1316

or

2. below approx. ES $1292.25 to $1298's price zone

imo

[rimshot]

SPY 196.32 to 196.75 price zone contains four different chart element values including the daily pivot value and the SPY 15min 50sma

at this moment, this price zone needs to be defended by buyers into the Wednesday p.m. through Friday a.m. "expected" weekly low timeframe

if buyers do not step up at this 196.32 to 196.75 SPY price zone , the ES will likely target the $1940's in the coming hours/days

* sellers need to defend bounces back up to the 196.60 price level, to continue this decline to lower levels

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context for the internals ... requires daily consideration:

the McO's for all the US major indices, and for the majority of S&P 500 index sectors are improving to chart levels which must be recognized mounts a potential sustained upward attack up to the August highs for all these McClellan Oscillators in the future

all but a few of the McO's directly related to the S&P 500 index are now above their zero line and some McO's reside above their prior September highs

in addition, the McO for the WLSH 5000 and for the S&P Mid Cap index are making noteworthy chart recoveries