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Long

Long idea SPX (bullish Pinabar)

SP:SPX   S&P 500 Index
I'm still really bullish on the SPX             1.49% because is really healthy correction, what we're seeing now is nice correction, the price break below 50MA and 150MA and we have got a really bullish candlestick pattern (known as a bullish pinbar ) and is bouncing at 200MA, so this is a very bullish sign. If on Monday price can exceed the high of this bullish Pinbar there's pretty high chance we are going to continue the trend up. I'll be placing buy stop orders above the high of this bullish Pinbar and stop loss below low of this bullish Pinbar . This is not a prediction is a probability that it will tend to go up that will go down. Of course on Monday if the market is not able to exceed the high of the bullish Pinbar it could still go lower, so we need this high to be exceeded in order to now that okay we have completed the correction, we are bouncing at a 200MA and we are finding a new high in a while.
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