Prices reached perfectly, with a 200 ema touch to the tee. Now we see intraday opportunity to find good buy setups, unless the daily chart show us a break of this level, if this is the case we change our scenario to sell trades. Good week everyone. Sniper Tariy
Our preference: position bought above 2415,00 with targets at 2431,00 & 2436,00 in extension. Alternative scenario: in break of 2415,00, a continuation of the drop will be envisageable with 2410,00 & 2404,00 in line of sight. Comment: The RSI is mixed with a 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.
The S&P 500 broke into new highs from a 10-day consolidation and the small-cap indexes bounced sharply off their 50-day moving averages. That’s enough evidence to shift the market action to Uptrend. SPX is approaching the upper line and move further away from the support, above 5MA and 20MA. Held call option SPY@225.5