S&P500 Confirmed sell as it crossed the MA100 (1d).
The S&P500 index crossed today under the MA100 (1d) for the first time since March 28th.
Since October 2022, the pattern is a Channel Up and the current decline since the July 27th top still has room to fall before it hits the pattern's bottom.
Trading Plan:
1. Sell on the current market price.
Targets:
1. 4250 (bottom of the Channel Up and potential contact with the MA200 (1d)).
Tips:
1. The bottom's of the long term Channel Up have beem formed when the RSI (1d) completed Lower Lows near or under the 30.00 level. Be ready to book the profit if you see a rebound after the RSI makes a Lower Low.
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Notes:
Past trading plan:
Since October 2022, the pattern is a Channel Up and the current decline since the July 27th top still has room to fall before it hits the pattern's bottom.
Trading Plan:
1. Sell on the current market price.
Targets:
1. 4250 (bottom of the Channel Up and potential contact with the MA200 (1d)).
Tips:
1. The bottom's of the long term Channel Up have beem formed when the RSI (1d) completed Lower Lows near or under the 30.00 level. Be ready to book the profit if you see a rebound after the RSI makes a Lower Low.
Please like, follow and comment!!
Notes:
Past trading plan:
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