Trading SPX very comfortably here ever still. I bought long at yellow and waiting to see if the rally has legs to breah further upside resistance. I will switch risk of > 450 and raise my stops to secure profit. Trade safe
Whatever the macro-economic facts/narratives or gvt. 'explanation', just looking at the SPX and DXY graph correlation paints the current picture... and a possible scenario one should take into account for how this may unfold. Not trying to make any predictions or spread fud but for me personally this is a time to hedge my market risk and currency risk.
Hellow Tradingview friends!
A small analysis based on trend based fib extensions and the levels I'm watching currently in the S&P500.
Next week will be a big week from:
1. A technical perspective as the S&P is about to test:
- A key fib resistance level
- Possibly the 200DMA
- Possibly the downtrend resistance line
Quite some hurdles to take and the volume...
