trip.trading

S&P500 - It's TIME..

SP:SPX   The S&P 500 Index
193 0 2
Swing Alert S&P500             @ LONG > 2050.
SuperTrend indicator is @ BUY the DIPS as long as the cash index > 2045.
Key Support to stay in an uptrend @ 2060, 2040.
There should be heavy resistance in the 2080-2100-2115-2135 area from previous highs and red trendline . In my view, to overcome strong resistance, you need a Higher Low first. So a corrective wave to lure in shorts and when it hits the 1930-1970 (Fibonacci support area ), it’s rinse and repeat and the stage is set for wave V-iii up. Waves 3 are usually the largest waves, can not be the smallest.
If I assume APR             14, which is 63 days since the LOW of FEB 11 @ 1810, is the HIGH for wave V-i, then wave V-ii should last at least 21 days = 1/3 = MAY 5. Of course, this count starts over if a Higher High is formed next week. Most relevant cycles are (in calendar days): 7, 21, 35, 63, 119 & 147. All multiples of 7, not a coincidence. This is comparable to cycles of 5 trading days: 5, 15, 25, 45, etc..
10 day EMA is @ 2065. So a close < 2065 is a bearish signal.
RSI shows bearish divergence. A short signal is activated if the RSI breaks the uptrend.
My Conclusion:
Short term (days): long > 2060, short < 2060.
Medium term (weeks): long > 2040, short < 2040.
Long term (months): long > 1810, short < 1810.
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