SP500 Short Term Outlook

FX:SPX500   S&P 500 index of US listed shares
141 1 1
My line in the sand (LITS) is at 2097.5. Above it, I'm only after longs...below, only after shorts.

Kinda hoping for a bit of a pullback to the Tenkan, Kijun or Ichimoku cloud so I can hop in long for cheaper. Of course if my LITS breaks, my long bias is invalid and I'll be back looking for shorts. As everyone and his dog I'm expecting a correction for the SP500             , but even on M15 I can't see a decent short signal (yet).

Important to note that ADX has consistenly dropped while DI- (bears) gained a bit of power. DI- still above 20 too. If DI+ drops below 20 while DI- does the opposite, this bias is invalid too.

Anyway...for now, looking for pullbacks so I can hop in long.
TradeApe PRO
2 years ago
Stupid market wouldn't stop testing my LITS from above today. 2 trades, both kicked out at BE :/
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