The S&P 500 has created a nice launch pad for a strong rally this week.
China bottomed (1), Oil double bottomed (2) and on the S&P 500 daily chart the MACD histogram is bullish, as well as the Aroon and the Vortex trend and the SMA 14.
Entry: Below 1900 (current close around 1890)
1. Target: 1970
2. Target: 2014
3. Target: 2060
Stop loss: 1850
(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 Aroon and the Vortex trend and the SMA 14.
Entry: Below 1900 (current close around 1890)
1. Target: 1970
2. Target: 2014
3. Target: 2060
Stop loss: 1850
(1)
(2)
Note
So far so good. The S&P 500 rallied up to 1927 today, after my long recommendation from 1890 yesterday. The rally looks a bit too aggressive though, so I'm actually getting bearish again that this could be a top already.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.