It is Signalling a Rebound

SP:SPX   S&P 500 Index
3695 35 57
The SPX             has retested the major long term low and support level at 1821, before rallying.
A bullish hammer at that support suggest we could see more upside in the short term(for the coming few weeks). Fading the rally from here is a dangerous idea.

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There is lots of risk running into JOPY futures. This ttells me stocks will break down this year?
Technician HumbleTraders
I think so. I think we might get another bear market rally in the coming few weeks, before resuming and see a breakout.
Might very easily be back to 1867 by tomorrow (Wednesday) or Thursday.

A low volume Friday might have it bounce back upwards. Gonna keep the JNK in the trunk along w HYG, plus some other stuff (all on the shortside).

I will avoid picking up those pennies in front of the steamroller! But I do love to watch a big ass bounce. And I love watching them go down. Gotta get ahead in this market, lol.
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I think you're right that we're headed back to the 2000 level on the $SPX, but putting on this trade feels a bit like picking up pennies in front of a steam roller. I personally prefer to sit this little counter trend rally out and put on a short position at the 2000-2020 level.
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Excellent , and clean price action. That's how I like it.
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Hamit moorekapital
Hi Moorekapital, what is the meaning of BOL & HL MTR? I am a technical analysis newbie :)
Kindly read my notes,as part of the publication.
Hi Technician,
I understand that your are short Oil. Do you think that a drop in oil prices is going have any negative implications for SPX?
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