SP500 - Daily update - Top Likely In Place

FX:SPX500   S&P 500 Index
331 2 6

The top is likely to be in place.

Top stickiness above 2090.

Key levels:
2090 - Below which dynamics could be faster.
2000 - Support likey to be broken decisively this time
1900 - Probably a buy to 2140 / Jul15
I agree with you , but I am looking for a daily close below 2100 to confirm , but a close jamming could mess it up !
NFP Friday

- Impossible to know if the result (good or bad) will trigger a return to 2120 or collapse through 2090.

- And the outcome is not necessarily in positive correlation with the strength of the data.
* very good could trigger some rates hike fear.
* very bad could trigger some comfort that rates will remain low.

In any case the top seems in place. It is just a question of money management until it breaks below 2090.

My stance: remain short through noise.
+2 Reply
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