S and P should rally well once 2351 is broken on ipside
The S and P is showing the same pattern as it did at the start of the year.
It's back in the basement waiting for buyers. Once it break back above 2351 it should rally well.
Se chart for details
It's back in the basement waiting for buyers. Once it break back above 2351 it should rally well.
Se chart for details
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Looking at price action so far we might not get in 2344...may only come back to 2348ish and then rally from there. If it does this the pattern it makes will be very bullish so try your best to get long around 2348 if you see it sticking here on next litttle pullback.
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We still need to use a fairly tight stop here because if it fails to get above 2352.5 (high in Europe so far) fairly quickly after the open there is still a chance that it could reverse from here, and fall away - don't think so, but we need to cover that eventuality...think 2344 should hold on downside so the stop really needs to be just below here.
Perhaps an easier less stressful way of getting long is just to wait for the index to clear 2353 and then buy..it should rise to 2356, come back a little and then rally again...if the call goes to plan raise the stop to a point or so under the first correction we get and ride the rally. If it rallies fast, which it could do once above 2353 try using the 1 minute chart to track the rally, as per recent advice - or longer term traders and swing traders just get get long and stay long once we clear 2353.
Perhaps an easier less stressful way of getting long is just to wait for the index to clear 2353 and then buy..it should rise to 2356, come back a little and then rally again...if the call goes to plan raise the stop to a point or so under the first correction we get and ride the rally. If it rallies fast, which it could do once above 2353 try using the 1 minute chart to track the rally, as per recent advice - or longer term traders and swing traders just get get long and stay long once we clear 2353.
