Long

S&P 500 IDEA

Updated

Just a test idea with different chart layouts from other ideas.

> Support lays around the 2640 / 2625 region
> If a trade triggers initial targets 2700/2710 level

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gapped up on late Sunday trading (23:22 local GMT) which could signal strength; will update asap.

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trade entered at 2671 seeing some building support here; Initial target remains the 2710 areas in the case of a rally.

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good growth with that US data; price up to around 2678 level

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currently up approx 1.1% OTD

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a nice close above the 50-day ma (with respect to 4h metrics) up to approx 0.8 OTD in early Europe trading; if close above this level on a daily perspective (approx 2867) then could consider further adding to the position.
Happy Trading!

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100MA (d1) close ; RU scaling position may be possible in asia session.

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added a 50% OTA trade following the strong close at aprox 2705.4

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Bit choppy yesterday but nothing unexpected due to sleep number revenue miss that seems to have been the catalyst; but still a positive close. I expect a down/neutral (or a low increase even) day is imminent to consolidation positions near term but long momentum is still maintained.

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consolidative tone today as expected in the previous update; want to see a close above 2705.89 (d1/100ma) to indicate medium-term upward momentum. To maintain this short-term move seen this week need to stay above 2689.57 level (d1/50ma).

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Expect more of the same consolidative tone as yesterday. Need to hold 2680 level and would like to see a close above 2691 level; further continuation of the upside would be warranted past 2710.

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The main driver behind equities at the moment is earnings results. The geopolitical scene has calmed down with the good news of a possible Trump/Kim meeting, Syria news fading I think that this has done wonders for geopolitical tension and investor risk appetite. There are 15 ER's from the SP500 due out today in market hours 7 positive chng% and 8 negative chng%. I expect today to be a slightly positive day; maybe neutral but leaning towards positive.

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retraced to support around 2660, expecting upward momentum next week.

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opportunity to scale position here as similar level ; target 2710/2720 level

Brad010

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