Successful AB=CD reversal - 1945-1950 nearest support

FX:SPX500   S&P 500 Index
Successful AB=CD pattern initiated today's rally on $SPX             .
1945-1950 is key support now and the hourly 200 SMA line is what currently keeps $SPX             from breaking higher.
Towards GDP - Potential pullback towards 1945 or breakout towards 1980 and 2000.
I'd place stop loss below the 50 SMA line (hourly)

If you want to learn more -
Yesterday's AB=CD setup -
seen your analysis yesterday, nice job!
themarketzone riccardo.pradella
Thanks, yesterday's analysis (aggressive C entry) didn't work, but when $SPX provided this bullish AB=CD pattern I had to try again. Wasn't easy though..
+1 Reply
riccardo.pradella themarketzone
ahah i see, anyway, finally.... ;)
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