S&P 500 - Key reversal from 50 EMA

FX:SPX500   S&P 500 Index
1383 15 36
We are printing a big reversal today. Not just a bullish pin bar , but a key reversal candlestick also.
So I'M quite sure that we printed the DCL last week.

We are running to new highs. This a low risk entry:
SL : 2034
TP : above the 2015 May high (2160-2170)

I would open only a partial position as tomorrow we might come back to 2055. I would add the other half of the position there. If price running away tomorrow without the 2055 pullback I woud add the other half at the break of 2084.
Comment: We broke above yesterday's high a few minutes ago.
All the swing traders will be on the long side again from today.
Comment: Looking forward to see a green candle today.
SPX500 is in a bottoming process now.
Comment: Don't touch the position. The US Govt will save the market....
They were preparing for this. They will pull up by the close.
Comment: Though we stopped out I see a reversal here so I will reenter into this position.
We tagged the 200 EMA and bouncing from there.
It's simply too late in the daily cycle to print a lower low.
Going long again before the close.
Comment: It seems we bottomed finally yesterday...
We have a swing again ( price went above yesterday's high) We have the swing traders on our side now.
We just need the purple trendline to break and the techical traders will be with us.
It was a good decision to reenter yesterday...
What will be the first target?
The all time highs.
Thnks, you have halped me in my dilema - closed my short with solid profit.
Same thoughts - went long at 2024. In daily im seeing a slight bullish divergence (rsi6) - would bei nice if somebody could cross check
Thanks for the support! I keep buying. You have a very interesting approach! Thanks for sharing your experience!!!
you are so smart... thank you SO much for posting. I am learning SOOO much from you. :o)
+3 Reply
How is this trade working out for you?
It's in a bottoming process. We will break to the upside this week.
bahmamadou chartwatchers
Sir, It seems that your predictions are slowly going to be true. Thank you!

It is Downtrend , I do not do that.
do not scare me! : D
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