FxWirePro
Short

Sell S&P500 on rallies in Q1

FX:SPX500   S&P 500 index of US listed shares
271 0 10
Major resistance (Long term) – 2115 ( trend line joining 2137 and 2132)

Minor support (Short term) – 1990

The index has made a low of 1993 and started to recover from that level. It is currently trading around 2055.

S&P500             is expected to trade weak in 2016 as long as resistance 2108 holds. Any slight bullishness can be seen only if it above 2115. Close above 2115 will take the pair till 2192 (161.8% retracement of 2116 and 1993)/2253/2324 (161.8% retracement of 2137 and 1833).

On the downside any break below 1990 will take the pair to next level till 1940/1900.

Any break below 1900 will take the index further down till 1833/1800. Long term weakness can be seen only below 1800 level.

It is good to sell on rallies around 2060-70 with SL around 2120 for the TP of 1990/1900/1835
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
ประเทศไทย
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out