SPX retracement may be under way!
Updated
Pay close attention to today's US open!
We might see the market move up, and a retracement underway.
Important points to watch: 1888 - short-term trendline (4H) + 8 Daily SMA (which I mentioned in the previous post as a the downtrend's resistance line). Also yesterday's late price action could be a good trigger for a move up today (see related post)
If the market closes above this 8 daily SMA then look for a correction towards 1920 in the following days (week).
If you are interested in speculating this incumbent correction, better to place your stops just under 1840.
Good trading to you all!
We might see the market move up, and a retracement underway.
Important points to watch: 1888 - short-term trendline (4H) + 8 Daily SMA (which I mentioned in the previous post as a the downtrend's resistance line). Also yesterday's late price action could be a good trigger for a move up today (see related post)
If the market closes above this 8 daily SMA then look for a correction towards 1920 in the following days (week).
If you are interested in speculating this incumbent correction, better to place your stops just under 1840.
Good trading to you all!
Comment
Breakout confirmed - 1940 in sight.Trade well!
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