S&P 500 IndexLong
US Equity Indices potential to break higher
SPXSPX500USDSPX500US500 - Intraday - We look to Buy at 2885 (stop at 2875)
Mixed but positive price action has resulted in consecutive, narrow-ranged, sideways trading days. Intraday dips continue to attract buyers and there is no clear indication that this sequence for trading is coming to an end. Price action is forming a bullish flag which has a bias to break to the upside. The dip was bought and the rally sold resulting in little net change for 5 consecutive (trading) days. The medium term bias remains bullish. Preferred trade is to buy on dips.
Our profit targets will be 2910 and 2925
Resistance: 2900 / 2910 / 2925
Support: 2885 / 2875 / 2865
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