InvestingScope
Long

SPX: Medium term long to a Higher High.

CME_MINI:ES1!   S&P 500 E-mini Futures
The index is trading within a 1W Channel Up ( RSI = 57.360, MACD = 38.130, Highs/Lows = 5.5037) since late February. Since the May Higher High, the pattern has been respecting the Higher High/ Higher Low marks providing clear buy/ sell signals.

The price just broke above the 1D MA50 which has been the Resistance for a whole month (August) since the 2,780 Higher Low. With this strong break-out, the index should now technically test the 3,030 1W Resistance and then move on to a new Higher High within 3,065 - 3,085. We remain long on SPX .







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Comments and likes are greatly appreciated.
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Thanks for the analysis, greatly appreciated...
+1 Reply
@WaveWalker, You are welcome. We are glad we can help.
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Thank you for sharing your view. The market is full of surprises and would suddenly change its mind in the short term, doing just what the majority does not see coming. Accompanied by pseudo-news like "The trading talks are not taking place after all". ;-)
+1 Reply
@ReallyMe, Thank you , we appreciate the feedback.
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Thank you.
+1 Reply
@jnwanze, Glad you find this useful.
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