S&P 500 IndexLong
Great trade in SPY!!!
For an aggressive trader, you can buy now and place your stop at $5848, which is a safe zone because if the market falls below this price, the bull market would also be invalidated. My target would be $6193, which is the last leg plotted at the bottom of the pivot. To support this position, we observe that the SPX has pulled back to the 0.5 Fibonacci zone and the previous high, and the stochastic is in the oversold area. This trade offers a 4% gain and a 1.77% loss.
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