sumastardon
Long

S and P continues to unwind by trading sideways

FX:SPX500   S&P 500 index of US listed shares
55 0 7
Really frustrating conditions for anyone but daytraders, as the great unwinding of overbought conditions continues by sideways trading. Continue to buy the dips, but beware the falling resistance line at 2375.
Comment: Suggest using a stop for any long positions at 2347 as if it breaks below 2348 it's likely to trade back down to 2340 and perhaps a little lower towards 2335 before bouncing again.
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