Friday marks the last day before the start of a new month and quarter in the market. This is very important for Wall Street, as we’ve discussed the rebalancing and rotation happening at the end of the quarter.
After a monster push, the market is seeing red days to end the month. The conversation now focuses on… Is the market extended?
Technically, yes, but that doesn’t necessarily mean the market will continue to head lower.
The market is starting to trend down, as the S&P 500 (/ES) broke below $4,586 and is now heading toward the next key zone at $4,554.
Pay attention to how “big money” reacts. Will these players continue to sell things off in the new quarter or start pushing the market back up again?
Be mindful of volatility, rotation, and distribution that could happen at the start of a new quarter.
In the video above, we’ll walk through the technicals on our charts, create a road map for Q2, and lay out setups on PANW and TSLA.
Stay Focused!