09102023 - #SPX
I was bullish SPX on Friday (tradingview.com/chart/SPX500USD/jpcIH4S7-06102023-SPX/) and as it played out, market rallied initially, giving good profits. NFP gave the huge sell off, which took out some profits but gave the opportunity to go long at a better price lower at support.
We got the 120points rally, hitting where my arrow is. Price target is good enough to look for opposite trades; and amazingly, market opened gapped down today by 30points (50 points from my target).
On weekly, market formed a pin bar which is a bullish candle IMO. Price is still below the WBZ and MBZ but IMO, bulls in control. Friday's candle is also bullish and yes we had what seemed like negative news (war) but IMO impact will not be big.
Could get another dip down during European session - on fears, and more to suck in bears but looking for a move higher.
We got the 120points rally, hitting where my arrow is. Price target is good enough to look for opposite trades; and amazingly, market opened gapped down today by 30points (50 points from my target).
On weekly, market formed a pin bar which is a bullish candle IMO. Price is still below the WBZ and MBZ but IMO, bulls in control. Friday's candle is also bullish and yes we had what seemed like negative news (war) but IMO impact will not be big.
Could get another dip down during European session - on fears, and more to suck in bears but looking for a move higher.
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