What's next on #SPX500?
First of all: to be honest, before today we were pretty much sure it would reach 3000 Area.
Now, something is changed, obviously.
As the bullish trendline was broken on 2900 we turned our trades on a short view and we made a very good profit, as you can see on our free Telegram Channel but
once broken the important level in 2830, we cannot think about long trades.
So we wait for the same level is retested again to open another short position until 2777 area.
If broken as well, we wait for it to reach the previous point 4 of Elliot Wave visible on the daily timeframe.
Target 2730.
First of all: to be honest, before today we were pretty much sure it would reach 3000 Area.
Now, something is changed, obviously.
As the bullish trendline was broken on 2900 we turned our trades on a short view and we made a very good profit, as you can see on our free Telegram Channel but
once broken the important level in 2830, we cannot think about long trades.
So we wait for the same level is retested again to open another short position until 2777 area.
If broken as well, we wait for it to reach the previous point 4 of Elliot Wave visible on the daily timeframe.
Target 2730.
Comment:
Comment:
Look at this chart.
#SPX500 reached the long trendline and it seems to be refused but, we need the confirmation. So the price MUST stay above this trendline until tomorrow and BREAK (and stay above) Today's max. If it'll do so we can go long for the next week.
If the price moves down the trendline, times are changing for all the market and we will probably speak about a bearish view for a long time.
Let's see what happens in a few hours.
#SPX500 reached the long trendline and it seems to be refused but, we need the confirmation. So the price MUST stay above this trendline until tomorrow and BREAK (and stay above) Today's max. If it'll do so we can go long for the next week.
If the price moves down the trendline, times are changing for all the market and we will probably speak about a bearish view for a long time.
Let's see what happens in a few hours.
