Short and Intermediate-term long. Long term short, could see a fall back to low 2000s by end of the year of the beginning of the year.
MACD is still positive, Moving Averages are still stacked.
confirmed bullish violation of a horizontal structure resistance on 1H chart spy.
now bulls will keep pushing higher.
next goal - 3462.5
best entry is always on retest.
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S&P500
The price is above key support/resistance level ,after a pullback If price continue to hold the Support then there is a chance that price might continue to grow,wait for the price to make a pullback and if price gives bullish signal and look for buy opportunity..
For Entry:
Wait for the...
Yesterday market closed at another ATH which would be three days in a row.
However, overnight market has been trading sideways. If recent pattern holds than we might have another day of rally.
Level to watch 3451 --- 3453
Reports to be aware:
US:State Street Investor Confidence Index
10:00 AM ET
US:EIA Petroleum Status Report
10:30 AM ET
Looks to me like a slow melt up again, not enough movement to make it worthwhile with options. Watch out for Thu morning though, POwell has a habit of tanking the market. Might be worth getting some puts tomorrow afternoon, lol.
Everything points to Friday afternoon as the top (for now). AAPL splits Fri close.
Why?
14 Green days on SPY!!
One of the longest green day runs on spy in terms of Heikin Ashi candle.
Possible pullback to 331.40 area.
I am not asking for a flood to super lows, just a healthy pullback would be very reasonable.
We could bounce if stimulus talk goes well in the feds.
The ES is behaving pretty predictably as stated before. The sequence of events are coming together just fine.
1) ES reaches the old all-time highs.
2) Overly eager and arrogant bears force their vision of a double top pattern followed by their dream of a crash.
3) Bears short with their leftover ammo then place their short stop at the most obvious place (around...
Overnight session market has continued its rally from yesterday.
However, market has a tendency to regress and a test of yesterday's Close might set the direction.
Level to watch 3440 --- 3442
Reports to be aware :
US:Consumer Confidence
10:00 AM ET
US:New Home Sales
10:00 AM ET
Overnight session market has rallied to another ATH which could bring sellers out and try to close the gap.
Test of ETH High could set direction for the day.
Level to watch 3424 --- 3422
