Nathan_Black

SPX: What to expect from here?

SPCFD:SPX   S&P 500 Index
Hello traders and investors! The SPX is doing quite good today; let’s see how it is doing:

First, in the 1h chart, we see a very sharp movement since Monday, just after it hit one of our support levels. The more it goes up, higher are the chances of a pullback, so, if it drops again to its 21 ema , I wouldn’t be surprised at all.

But it seems we are seeking the ATH here, and the daily chart has some interesting info for us:


Since the beginning of this month, I was expecting a pullback at least to the purple trendline, but it seems the market simply can’t drop properly.

As long as the index keeps inside the 4257 and the 4167, nothing interesting will happen, but if you ask me, it looks like we’ll retest the ATH , despite the low volume seen during yesterday's bullish reaction (which is a reason for us to stay alert). Still, I see no pullback/reversal signs around, so, I’ll keep my target at the ATH for now.

Meanwhile, it seems the index is doing just fine, and the drop to the 4k was just an opportunity to buy after all. My followers and I bought several stocks at this time, and we outperformed the market by a mile (the SPX , DJI, NDX... all indices)! If you know how to pick the right stocks, you can make some nice profits around. If it is a bull trend, you just buy when it drops.

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Thank you very much!
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