S&P 500 Index: SPX - Next Long Shot from Here
Updated
S&P 500 Index SPX
Following the next long trigger on the break above 2701, this index hasn't quite made it to the next upside target at 2747-2755 range after a high at 2744.
Close but no cigar.
As with the other indices this one is also overextended in near term.
And as with the Nasdaq, both indices have 2 lines of resistance sitting just above closing values.
In SPX case at 2747 and 2755.
It should begin to struggle for further near term upside in this range and needs to consolidate today's gains for awhile.
Look to buy the dip if we see one overnight - otherwise the next long shot has to wait for a break above 2755 (preferably after a consolidation of recent gains first) looking for 2794 initially, then 2814-5.
As above, the break higher when it comes, should be worth a further 2 to 2.5%.
Active Traders: For Global Market Updates in real-time please check the links at top left of main page.
Following the next long trigger on the break above 2701, this index hasn't quite made it to the next upside target at 2747-2755 range after a high at 2744.
Close but no cigar.
As with the other indices this one is also overextended in near term.
And as with the Nasdaq, both indices have 2 lines of resistance sitting just above closing values.
In SPX case at 2747 and 2755.
It should begin to struggle for further near term upside in this range and needs to consolidate today's gains for awhile.
Look to buy the dip if we see one overnight - otherwise the next long shot has to wait for a break above 2755 (preferably after a consolidation of recent gains first) looking for 2794 initially, then 2814-5.
As above, the break higher when it comes, should be worth a further 2 to 2.5%.
Active Traders: For Global Market Updates in real-time please check the links at top left of main page.
Note
sumastardon admin, [28 Nov 2018 at 23:45:12]:SPX500USD Chart
S&P Futures Chart SP1!
3 points shy of 2747 target after the break above 2683. doh
A break above 2754 needed to follow long again up to 2817-2823 range.
Otherwise look to buy the next dip if we see it develop overnight.
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