FX:SPX500   S&P 500 Index
40 0 0
Now that the price have extended beyond the resistance level i am expecting it to continue in the future, re-enforced by the false downside breakout and the green impulse bar. However it its also touching the upper limit of the channel shouting a pullback is eminent as evidence by the low volume of the MACD histogram and the EFI             .

The current market condition SNP             has 1197 new high and 77 new lows overall, (bull market), trading short in this condition is Crazy, Ill wait for a pullback at the value zone or a retest of the resistance turned support before we enter long in this market.

If scenario 1 fails ill sell this for short at 1.5 of the long position with a target at the lower channel limit.

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