Our preference: position bought above 2414,50 with targets at 2433,00 & 2442,00 in extension.
Alternative scenario: in break of 2414,50, a continuation of the drop will be envisageable with 2406,00 & 2397,00 in line of sight.
Comment: The RSI is mixed with a limited bullish bias.
StoppLoss 2374.... weakness under that level, could be a bad sign. Will do another rethink of the bull/bear situation then, maybe with some updates here....
Will Ichimoku cloud support SPX at this price too ? Pivot 2384 could be some resistance....?
Nothing is obvious in this situation, but I put the Hidden Bull dvg to do its job untill bear take over.
Bear dvg MOM, RSI, MACD in 15 & 30 min chart, at this 2297 hit..... just a suggestion if this could happen. I know my EW-labeling is probably wrong ?, but it's just helpful to use...and learning.
ENTER TRADE JUST BELOW THE 2125 PRICE LEVEL (1.618).
STOP LOSS JUST ABOVE 2129 PRICE LEVEL.
PROFIT TARGET 2109 PRICE LEVEL.
STOCHASTIC IS BEGINNING ITS FALL FROM THE 80 LEVEL.
