The markets hesitated today, but did manage to squeak out a small gain, after giving up the majority of Monday's bull move. We saw the formation of a bullish hammer candle late last week, but yesterday's move couldn't sustain its gains, as it closed well below the highs of the session.
The S&P is currently sitting between its last support and resistance levels, and we could see another day of this. The market could be waiting on the results of the Brexit vote (scheduled for this Thursday) before it makes its next move. Waiting for the final tally before entering trades could prove useful...it never hurts to wait another day.
See you on Wednesday's Mid-Week Trading Room Update class!
Have a great night,
Your Maverick Trading Team
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