China and Oil bottomed, let the February 2016 rally begin
The S&P 500 has created a nice launch pad for a strong rally this week.
China bottomed (1), Oil double bottomed (2) and on the S&P 500 daily chart the MACD histogram is bullish, as well as the Aroon and the Vortex trend and the SMA 14.
Entry: Below 1900 (current close around 1890)
1. Target: 1970
2. Target: 2014
3. Target: 2060
Stop loss: 1850
(1)
(2) www.tradingview.com/...17-is-25-per-barrel/
China bottomed (1), Oil double bottomed (2) and on the S&P 500 daily chart the MACD histogram is bullish, as well as the Aroon and the Vortex trend and the SMA 14.
Entry: Below 1900 (current close around 1890)
1. Target: 1970
2. Target: 2014
3. Target: 2060
Stop loss: 1850
(1)
Comment:
So far so good. The S&P 500 rallied up to 1927 today, after my long recommendation from 1890 yesterday. The rally looks a bit too aggressive though, so I'm actually getting bearish again that this could be a top already.
