Chart Analysis Overview
Presenter:
Lisa Lesley, Chart Analyst at Option Pit
Website:
Optionpit.com
Key Focus:
S&P 500 (SPX) and iShares Russell 2000 ETF (IWM)
S&P 500 (SPX) Analysis
- Recent Performance: Wild fluctuations with a 100-point range on Wednesday and Thursday
- Inverted Hammer Formation: Confirmed with Friday trading higher
- Resistance Levels:
- 5450 (already closed above)
- 5500 (needs to clear the highs and close the gap)
- Post-gap closing levels: 5550 and 5645
- Support Levels:
- Base of Pitchfork support at 5415
- Additional supports: 5390 and 5313
iShares Russell 2000 ETF (IWM) Analysis
- Recent Performance: Broke out of a bull flag on Friday suggesting a possible higher trade
- Resistance Levels:
- Support Levels:
- Bull flag support at 219.77
- Additional support: 215.70
Additional Notes:
- Lisa is starting an 8-week master class on chart analysis, from beginner to professional level.
- Classes start on Monday; details and registration link are available.
- Encourages viewers to like, subscribe, comment, and request charts for analysis.