xChampi0nx

SPX500 gone baby gone!!

FX:SPX500   S&P 500 Index
88 0 1
Hey guys
Just posting my quick thoughts on spx500            
Weekly:
Bullish Ichimoku . Strong momentum to the upside. So , I am not surprised with move to the upside. Macd has bullish hook and rising. But divergence can be seen in momentum however
Daily:
Bullish Ichimoku . Prices is above red resistance line . If you are not long, dont chase it now. If you are long, trail ur             stops. FED meeting is this week. Worth noting is Kijun on daily is far from price . What does that mean? We have two options: Either price pulls back or we consolidate in time untill kijun do some catching. But this week will be volatile. VXX             took a lot of beating in few weeks and I expect it to pullback. So, I expect a pullback here. Time will tell how deep of a pullback. If we pullback and consolidate around breakout zone, then I'll consider long again.
Happy trading this week to you all....
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