SPX500 (SP500)
Updated
Hello Traders,
The first week of the New Year dished out some beautiful setups
NFP was released last Friday and the indexes gave out manipulation before we seen extreme bullish pressure once Manufacturing news was released
Scenario 1: We would like to see price go bullish then reverse to destroy the equal lows
Scenario 2: We would like to see price continue the bullish pressure for an uptrend breaking the Weekly downtrend
Big companies announced the cutting of jobs this week. Either way, we will adjust to the market behavior and catch profits.
Have a good trading week and remember the fundamentals of risk management and discipline!!
The first week of the New Year dished out some beautiful setups
NFP was released last Friday and the indexes gave out manipulation before we seen extreme bullish pressure once Manufacturing news was released
Scenario 1: We would like to see price go bullish then reverse to destroy the equal lows
Scenario 2: We would like to see price continue the bullish pressure for an uptrend breaking the Weekly downtrend
Big companies announced the cutting of jobs this week. Either way, we will adjust to the market behavior and catch profits.
Have a good trading week and remember the fundamentals of risk management and discipline!!
Note
SPX500 (SP500) Rejected off our monthly trendline for scenario 1
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