SPX 2150/55?

FX:SPX500   S&P 500 Index
Looking left of the chart, selling at the top of the channel, buying center channel has been a good RR trade. If price trades down to the bottom of the channel it's been a great RR long. Why try to reinvent the wheel? Looking to long next week into 2155/60 where I will flip to shorts. Will keep this trade plan until it stops working.
S&P500 Real Price - Current highs on a monthly close could be contained by the upper trendline on chart. Notes on chart.
SPX priced in euros, broke it's year 2000 highs in January of this year. Could this be a breakout and backtest? Notes on chart.
Very Clean Chart.

Going 150 again for a short again would be perfect.

I am not sure if this kind of perfection will be provided again.

2040 is the key level now: Long as long as above.

Other strategy: short a bit here and add if 2150... that shall make money at some point in the higher time frame.
+2 Reply
elp YaKa
True, 150 would be an early x-mass present. The upper trendline was pierced, price closed right at it. Not being able to clearly take it out would get me looking for shorts.
+1 Reply
Cycle chart for the SPX. Moday is a fib cycle day while Friday is a fib level in time. Don't know direction but believe both days could be an inflection point.
Rate of Change, showing increasing momentum from recent lows.
elp elp
ATR is increaing. Left of the chart an increasing ATR has lead into a pullback to buy the dip.
+1 Reply
elp elp
March and Monday has been an up day. Will the following Monday make it 4 for 4? Will look to long on observed support moving my stop to BE asap.
Accumulation & Distributio. Top A/D indicator not confirming accumulation like at February lows.
Looking at the COT report for the ES, specs are heavily long and commercial are very short. The last 3 times the ES COT report had a similar posture, the ES experienced a correction. The more price keeps ripping into highs where retail gets more long with commercail getting even more short, would give me more confidence a correction of 10% or more is nearing. However, I could be 100% wrong. link to cot chart - http://www.screencast.com/t/fiYACXOc
+1 Reply
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