China and Oil bottomed. Let the March 2016 rally begin!
Updated
The S&P 500 has created a nice launch pad for a very strong rally in March.
China bottomed (1), Oil double bottomed (2) and on the S&P 500 daily chart the MACD histogram is bullish , as well as the Vortex trend and the SMA 14. and many other indicators.
Entry: Below 1940 (current close around 1930-1935)
1. Target: 1970
2. Target: 2014
3. Target: 2060
Stop loss: 1880
(1)
(2)
China bottomed (1), Oil double bottomed (2) and on the S&P 500 daily chart the MACD histogram is bullish , as well as the Vortex trend and the SMA 14. and many other indicators.
Entry: Below 1940 (current close around 1930-1935)
1. Target: 1970
2. Target: 2014
3. Target: 2060
Stop loss: 1880
(1)
(2)
Note
26 days later the S&P 500 has rallied strongly and approached closely to my resistance of 2059 points with a potential trend reversal after the terror attacks in Brussels today (March 22).I noticed a bearish divergence on the MACD in comparison to the rally:
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