Expecting a final push towards 2070 - 2100 region on SPX500 ahead of a decline towards 1900 eventually. Book partial profits at 2010 - 2000 and move to BE.
On the flipside, as noted, only a 'CLOSE' above 2106 - 2100 will invalidate the short set up. Expect to see spikes to this level if price doesn't start its descent already ahead of the Dec 16th FOMC Meeting.
Trade active
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Move to break even. Need a break below 2010/2020 support for a decline lower. Else, there could be a bounce back to 2060
Trade active
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Book partial profits and move stops to break even. Expecting a bounce off the current levels.
Trade active
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SPX is slowly moving upwards as anticipated. A close above 2024/25 will see a test to 2046/45 region. A close above could be bullish with a test to 2065 where the last support was formed before prices turned lower last week. So 2065 is a great level to watch for a reversal (H1 or H4 doji would be perfect there). If we do find a reversal near 2065, SPX could be looking to a prolonged decline down to 2000 and 1880 eventually.
A close above 2065 however could see a continuation to the upside. So trade management would be essential here.
Good luck!
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Price eventually managed to move higher during the NY session yesterday. 2050 looks like an inevitable retest. Shorts still in play but as noted, at break even. A short term long on the intraday dips should offer some quick profits to 2046/2050 zone. Price above 2050 and below 2070 could mean trouble and should be used to exit all short positions.
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Exit at 2030.. Makings of a Santa rally and a potential inverse H&S pattern shaping up!
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Potential medium term scenario that could be worth keeping an eye on
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IvanLabrie
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Perfect man, we'll see more down on Monday.
justatrader
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I entered a day later after 16th off the H4 doji and price action has been crazy since then. But there should be a recovery soon back to 2060 region for another go if 2000 holds. looking to 1980/1880 for the eventual target. Ger30/DAX is looking more juicier to the downside.. I'm thinking 8000.. and anyways, EURUSD has a seasonal tendency to rally into Jan/Feb. Let's see how this goes.