FX:SPX500   S&P 500 index of US listed shares
71 4 2
Sell Below 2038
Bias is down with interest rate rises looming and failure to make new highs.
Wait for confirmation before selling at 2038 as it bounced before.
Fundamentals should trigger the technical breaks to the upside or downside.
Fed interest rate hike must be getting closer
Good call! What is your stop now? That was some 100 point drop once it broke 2038... Hope you caught it!
Thanks Tim. I did catch the ride down as a sell order triggered. I'm afraid I'm not in the trade now but have traded it four times selling each time. I had 3 winners and one loss when it touched my stop at 1975 and then decided to go the right way !!! I would like to have been in for the swing trade but I felt it may want to do a retest somewhere so trailed my stops each time. Didn't think anyone was following this :)
that was good and analysis was better than mine. I used the 2038 support break to write credit spreads & condors on weeklys. So far so good and I am looking for FOMC update to see if the direction for SPX is going to change.
Hughjengine srinivasvk9211
Good luck! I am waiting at the moment for some kind of indication on direction. The market isn't crashing is it but it looks like a pattern could be developing on the daily chart. All the best.
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