themarketzone

Exploding from the 200 days MA line - What's next

FX:SPX500   S&P 500 Index
SPX             exploding from the 200 days MA line as the Market is enthusiastic about potential Clinton win.
2080 was the target zone of my previous bearish setup and it was a strong daily support zone that was also mentioned in my previous analysis - Those of you who capitalize on it - Good job!

What's next?
Well... tomorrow is the U.S elections. Anything can happen.
The next major resistance zone that SPX             will encounter with will be 2150 (2140-2160 to be exact)
It has several trend lines that should act as resistance, it has structure, it is the 61.8 Fib level and its where the price will meet the 50 days MA line (resistance)

If you want to bet on a bearish outcome to the U.S elections, that can be a Price Zone that you want to check out.

Bulls can bet on new record high with such bullish reaction to the 200 MA line

Comment: Needless to say that the trade is closed :)
Great Sell Zone
Trade closed: target reached
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