All looks good for long, see what happens over the next 24 hours if we can continue past 2750?
Signal: Buy Limit - 2563.0 Take Profit - 2602.0 Stop Loss - 2533.0
According to the CME COT www.cmegroup.com It's also seemed like CTAs and other leveraged market participants adding long positions to their portfolios.
UPtrend channel. Nearing lower limit of trand channel.
Here is my scenario for the coming month. Prices are probably in the wave 3 of the final wave 5 of the cycle started in 2009.
Are you ready for Comey hearings SP might fall again. this time badly to 2300 thursday short if 2438-2440 (closing the gap) on tuesday/wednesday
Sp 500 at support here quarterly pivot 2336,28 and monthly S1 2322,99 take profit from short and take long here to monthly pivot 2361,98
SP will probably follow the pink line unless wherer the break out of the market is actually a fake out. But seen form an ling term view, SP finds himself in an up trent,
SP broke the yearly Camarilla R2 2367,37 and did a top at Fibonacci R2 2397,69 . Next stop Camarilla yearly R2 2324 and if break that then next target fibonacci yearly R1 2287,38 and Camarilla R1 2281,68
The week's 3 day pullback from the high of 2400 ended last night, when massive support came in at 2355. This drove the S&P up and out its downward channel breaking free at 2370. Heading for 2380 this is also a 50% retracement of its 2400/2355 range. I would like to see S&P test 2390 to initiate a short, with a view that 2400 is the all-time high as I've...
Sell around 2350-2400 or after retracement and (or) channel breakout
Sp 500 did the top for this week at monthly R1 2281,76 area as long it say above the monthly pivot 2234,60 area its bullish. If break the monthly R1 look for quarterly R1 2316,31 area and if break monthly pivot 2234,60 going to quarterly pivot 2200,05 area . For now trade monthly pivot and monthly R1.