chartwatchers

S&P - Testing the breakout

FX:SPX500   S&P 500 Index
884 6 32
S&P             seems will test back the breakout at 2137$ or at least the 20 EMA at 21.46$.
My recommendation is not to short it because it might be a very short breakdown with an immediate rally so if your are sitting at your computer 0-24 you might catch it but otherwise you will be get caught with your shorts.

If we test the breakout we will rally to new highs again. That will help oil             to bottom and rally again.

This is the dip what traders at the sidelines should buy or a possibility to add to the longs.
What are your thoughts for the S&P for next week ? Is a test back still on the horizon or will we continue with new highs ?
Enjoy your travels next week. Continue to appreciate your effort for sharing your insight and knowledge.
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Looks like SPY is breaking up from consolidation on weak dollar.
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The market is going to stay choppy until SPX breaks out of its coil.
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Agree. NKY and DAX posted bearish candles too. Looks like stocks will correct on BoJ news tonight.
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thanks arpi for your insightful comments
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Thanks for your insight. Appreciate all your efforts. Very helpful.
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