TradeApe
Short

SP500 short to medium term

FX:SPX500   S&P 500 index of US listed shares
The weekly chart shows a lack of true momentum, so I'm only after shorter term trades at the moment.

The daily chart suggests the bears are more in control with D- crossing the 20 level. ADX bounced off that 20 level too and should it continue to rise while bears are in control, we could get a decent down move.

Should 2043 break, I'll be in favor of a short potentially down to 1960. Depends a bit on momentum going forward, but for now my medium term bias is short.

Above 2043 I'm more in favor of longs, but not exactly excited about it given the clear lack of momentum on the weekly chart.
Still waiting...
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