S&P bulls stronger than ever!

FX:SPX500   S&P 500 Index
Today the SP500             is seriously attacking the upper bound of the Andrew's pitchfork . This breakout if confirmed could trigger another acceleration in the already strong one sided bullish rally that has been in force since 2009, otherwise in case of fakeout (fake breakout), this could trigger the much awaited market reversal.

Beware the near term price action! You need to wait for the monthly close to confirm a proper breakout, the shorter term picture could be more tricky to play!

The reason why I expect a breakout at least in the near term is pretty simple, the price is really strong and really stretched therefore it calls for small hands to come in and take the short side of the trade in the hope to time the perfect low risk entry.

This is what makes me tick, the "low risk entry" or in other words tight stops easy to hunt. Knowing where stops are placed gives a significant edge (and incentive ultimately) to big hands to push the S&P             a tad higher, yes just to kick out the small players.

As we are in a long term monthly time frame, in case the breakout happens there is still a window of 15 days left to confirm it. Don't forget that in case the monthly candlestick closes below the resistance line it could be interpreted as a medium/long term reversal signal.

PS: For a quick in and out short term reversal play better wait for the annoying and so common "S&P hit fresh record high" to be released in the media or for the famous "reversal Tuesday" before taking the trade.

EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
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