SPX retracement may be under way!

FX:SPX500   S&P 500 Index
Pay close attention to today's US open!
We might see the market move up, and a retracement underway.
Important points to watch: 1888 - short-term trendline (4H) + 8 Daily SMA (which I mentioned in the previous post as a the downtrend's resistance line). Also yesterday's late price action could be a good trigger for a move up today (see related post)

If the market closes above this 8 daily SMA then look for a correction towards 1920 in the following days (week).

If you are interested in speculating this incumbent correction, better to place your stops just under 1840.

Good trading to you all!
Comment: Breakout confirmed - 1940 in sight.

Trade well!
Excellent call !! As the correction has started now, all we have to do is to be patient until the next bearish swing starts to develop.
Breakout to the upside confirmed!

1940 should be a decent shorting point.
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