FxWirePro
Long

S&P500 breaks minor trend line resistance, targets 1995

FX:SPX500   S&P 500 Index
411 2 6
Major resistance – 1935 ( trend line joining 2023 and 1972)

The index has broken minor trend line resistance around 1935 and break above targets minor trend reversal, a jump till 1975/1995 is possible.

On the downside major support is around 1900 (temporary bottom) and any further weakness only below that level.

Any break below targets 1880/1865 level.

It is good to buy at dips around 1920-25 with SL around 1900 for the TP of 1975/1995.
My target was around the 1995 level too. I should of bailed when I saw the H&S forming (15 min) around the 1950 mark. New low invalidating the daily reversal doji now. You think she's going down or is their still a change for the 1975 target to be hit?
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good information but I have difficulty being very bullish given the status of commodities (Ag & industrial) and industrial production.
+1 Reply
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