Trader_97

IS S&P 500 READY TO RESUME HIGHER ??

INDEX:SPX   S&P 500 Index
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A FEW REASONS TO CONSIDER GOING LONG HERE.WE HAVE A NICE BULLISH ENGULFING CANDLESTICK WITH US YET TO CLOSE THE DAY.WE RETRACED 38.2% AND GOT A REVERSAL FROM THE 38.2% FIB LEVEL. TREND LINE SUPPORTS ALSO ALIGNING WITH THE AREA WHERE WE FOUND SUPPORT JUMPED BACK HIGHER.PRICES TRADING ABOVE THE 100 DAY SMA AND 50 DAY EMA . TREND LINE FROM SEPTEMBER 30TH REMAINS INTACT. HOWEVER MACD SEEMS TO BE SHOWING A CROSSOVER BUT STILL MOVING INSIDE THE BULLISH TERRITORY. I WOULD CONSIDER SHORTING WE BREAK BELOW THE 2019.50 AREA ABOVE 2058.56 LOOKING FOR A LONG SEEMS LIKE A GOOD IDEA AS WELL.
Yes... If you like some ping pong on your thought... go on twitter... I'm bullish too https://twitter.com/WallStScalper/status/666655297885356032
+1 Reply
Trader_97 WallStScalper
I'm not good with Elliot waves but I'm happy you shared your view with me.Thank you for that !
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