With the S&P trending up and at weekly demand and AXP basically mirroring it, having pulled back to an objective level of weekly demand from the pivot low in mid oct 2014 where price rocketed off. I am hoping that there will be some unfilled buy orders or a large enough supply/demand imbalance to push price higher. My entry on this trade will be a tick above...
Bearish outlook. So far, the target zone corresponding with the 12 month pivot looks likely. By Oct 13th, we will be in the midst of a strong down move or just ready to break down. Looks like the three pushes up this year were sold heavily. Cyclical S/R levels calc on the fly & print automatically. Many times they cync up with classic pivots. I'm not short...
As markets are near highs with S&P setting new records, American Express flagging near its highs aobve 8 EMA which is in control since 23 of May. Also, it broke 2 top around $94 and holding above. It is keeping attention of active traders and could give us another momentum up. Current high at $95.88, break up above could attract more buyers. Reasonable stop...