Genghis

SP500 Armageddon or low for the next 12months?

SP:SPX   S&P 500 Index
Bull case
- sat on top of broken trend line resistance which could act as support
- even with all the worlds doom and gloom, uninspiring economic date this thing just keeps getting pumped up by the FED
- heading into potential trend line support on daily stochastic

Bear
- Supportive trend line (yellow) eroded
- Bull recoil range trade failed with break of 2118 (See S&P500             Sep'16 - Long)

Dollar looking toppy             (see eurusd             and nzdusd             ) which could be argued either way for the S&P            
Comment: Sat on stochastic support. Looking for rally into 2160 to sell into
Comment: Potential support at 2,080. Looking for rally into 2,155 to look at short
Comment: Here is the rally

Comment: This the rally to sell into. Think we release some pressure out of the system in a correction before the new world starts under Trump in 2017
Trade closed: stop reached:
Comment: New all time high

Looking for rally into 2160 to short
Reply

Suspect a bounce from here into 2160 levels. Then my bias is to the short side.
Reply
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