Sforex

S&P 500: Watch the resistance 1940 to trade this week.

INDEX:SPX   S&P 500 Index
346 0 6
Last two weeks, we saw a great effort of SPX             to bounce from 2015 low to test resistance at 1940

This week, I hope US data will be positive to bring momentum for US Stock market to break this resistance.

- Consumer Confidence.
- Markit PMI
- Durable Goods Orders
- GDP
- PCI             data
- New Homes Sales.
- Personal Spending + Income

All pieces of data would be the guideline for US equity this week.

We only two options :

- IF SPX             breaks 1940 resistance level : Buy SPX             to 1995
- If SPX             bounces at resistance, Sell to 2015 low.

USDJPY             will follow the move of SPX             .

Buy USDJPY             if SPX             goes up, Sell it if SPX             goes down.
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