ChartArt
Long

Game plan for the next Fed rate hike meeting in March 2016

FX:SPX500   S&P 500 index of US listed shares
708 2 16
Idea: Buy the dips after the current crash. A gap closing rally until March 2016 is in the cards, similar strong as in October 2015 possible (due to a short squeeze from TV media driven panic bottom shorters and a fake rally driven by large investors trying to close underwater long positions at break even).

Entry: 2nd or 3rd week of January 2016, wherever the current selling finds a temporary bottom
Long target: 2015-2020 points
Lowest stop loss before a free fall down: 1865 points

Info:
Fed rate hike in March possible after banner jobs report
http://www.marketwatch.com/story/fed-hike-in-march-in-the-cards-after-banner-jobs-report-2016-01-08

Wall Street expects March hike
http://www.reuters.com/article/us-usa-fed-poll-idUSKBN0UM2BF20160108

P.S. I have a short position since Draghi failed to excite the markets in December 2015, that's where the current downtrend accelerated:


The downtrend started here:


And made the key decision to stay in the downtrend channel here


Followed by the downtrend continuation here:
Comment: The next FED meeting is in about two weeks and the S&P 500 rallied as envisioned a month ago higher. In fact the S&P 500 futures rallied on the first day of March up to 1980 points. Which is even higher than the DeMark yearly pivot point which is around 1975-1976 points.

If this scenario further plays out there is a risk of a sharp decline soon in the cards. Otherwise the highest resistance is the classic traditional measured yearly pivot point at 2016 points:

snapshot
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