ChartArt
Long

S&P 500 uptrend can continue until Fed meeting with new 2015 ATH

FX:SPX500   S&P 500 index of US listed shares
108 4 0
a year ago
The market bought up the downtrend risk as if the Paris attack never happened with a short squeeze on Monday which turned into a real strong uptrend and now it is back to my "rally until the FED speaks in December" plan, which I posted earlier. I hate to flip flop so much, but the market is in such a key pivotal area here between breaking out to a new yearly high or creating a super bearish double top, which would be the start of a recession in 2016.

If we do get a new high I see it happen around the monthly R2 pivot price slightly above 2040 points.

Entry: 2050 (when it dips lower next week)
Stop loss: 2023
Target: 2040

S&P 500 new yearly high then pullback until December Fed meeting
a year ago
Comment: Three days later than I had expected the S&P 500 finally turned up high enough that the MACD on the daily gives the buy signal I predicted to happen between Monday-Tuesday this week:

Signal line crossed bullish with MACD:
snapshot
ChartArt
a year ago
I mean long target: 2240 (not 2040)
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ChartArt ChartArt
a year ago
The DMI trend is back to bullish and the price is on the edge to breaking back into the old uptrend, which is the main reason why I still see upside potential until the Fed meeting in December, after the S&P 500 had according to Bloomberg "the best week of the entire year 2015".

snapshot
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ChartArt ChartArt
a year ago
Here is the chart I used in my screenshot with the DMI trend and my uptrend channel:

S&P 500, buy the dip, target re-test of 2100
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ChartArt
a year ago
These are the pivot levels I came up with on Monday (which I should have shared earlier). The market bounced on Tuesday of the third one around 2069 which I colored in green. I still see downside risk given how lull the market trades this week. My long entry idea at 2050 might not get filled though. Highest pivot support is 2056 points. More likely is a second dip down to the 2064 area:

snapshot
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