WILL THE BULL MARKET CONTINUE? |TECHNICAL ANALYSIS OF THE MARKET | 15-19 MAY 23 #shorts #stockmarket
2This week's economic calendar doesn't feature any major events, except for retail sales on Tuesday, May 16, followed by initial jobless claims on Thursday, May 18. Overall, the market appears bullish but expects gradual upward movement with a few pullbacks along the way.
Let's analyze the future. NQ remains in a resistance zone between 13,746 and 13,225. Keep an eye on the 13,554 and 13,746 levels as major resistance, where NQ could pull back to retest its previous support. If a break and retest occur, and NQ holds above 13,225, we can anticipate a significant market upside.
ES, on the other hand, is moving sideways within a resistance range of 4,179 to 4,106, with an increasingly high probability of sliding down to 4,050.
Lastly, the Dollar is poised to break out above 102.83, potentially reaching 103.45. It's highly likely to remain within the range of 103.45 to 102.10 for a brief period, confirming sideways market movement for NQ and ES.
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