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themarketzone
Feb 2, 2016 3:01 PM

Potential Buy Zone to focus on Long

S&P 500 index of US listed sharesFXCM

Description

Last week's bullish setup on SPX was highly accurate and yesterday SPX touched the target zone and reversed.
Now the focus is on 1905-1915.
Potential buy zone if indeed last week's breakout wasn't a False Break.
Pay attention to the 200 SMA line (hourly) - Good level to place stop loss below.

Tomer, The MarketZone.net


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Comment

Setup failed.
I still think that by the end of the day you'll see a reversal and a close above 1900. In such case, will re-enter.
Comments
IvanLabrie
Agreed, we might get a nice push from that zone. I'm out of shorts now. (shorted 1928 and 1937.4)
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