andy.ismail

SPX500 S&P 500 waiting for reversal or breakout ?

FX:SPX500   S&P 500 Index
I think the reason is why SPX             to many gain in this week is the Apple             ( AAPL             ) big gain, SPX             can reach a new high but rationally it should be a correction to its fair price at 2055-2020.
In other side the safe heaven which is Gold             like XAUUSD             has met its support line and has a potention of rebound, that can be a signal for investor to move their money to the safe heaven
After over three-months consolidation since Nov. 2014, SPX is breaking to the upside. What do you think the shorts are going to do in the next couple of months?

The text book target for the breakout is around SPX@2186. Slow and steady will do it near the end of Apr.
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At least after yellen spoke yesterday, it can be a catalyst for SPX reach a new record high until next month but the economic report lately still not as good as its estimated. i prefer take a little defensive trade, like the other investor is starting to collect some gold (XAUUSD) for their save heaven
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