Stockindex
finally breack from it's rangethanks to quit bad data coming from the us , spx has finally breack from it's range to give us quit a perfect short . So whatto do now ? looking for some profit taking in the market to give us the opportunity to reenter short on the market . Because now that pa has closed below the ma on the daily we will be lloking for it to to sustain a pull back to confirm a shift of trend to be able to enter for longer term target , wich imo the fundamental back up very much ! So my game plan for the week is to look at pa to give us reason to enter on the 1 and 2 highlight level on the chart !
sp500 on it's way to new high now we starting to see big bying pressure across the bord on all major stock indexes , so sp500 should be able to breack it's range and go above , all that thanks to fomc :)
SPX500 Weekly AnalysisTalking about a snoozefest!
Momentum has consistently dropped since July 2014. ADX, D+ and D- are all well below 20 which suggests ranging. D+ and D- have also both dropped off more just recently. Not exactly great trading conditions.
ADX needs to cross 20 and either D+ or D- needs to pick up steam for a clear trend to form again.
A break of 2040 could net some nice pips as price tries to reach 2000 and then 1967. Right now I'm NEUTRAL because of a total lack of momentum.
SP500 Monthly AnalysisThe SP500 has a remarkable run since 2009, not least due to all that quantitative easing.
Calls for an end to QE and consequently rising interest rates have been growing ever since the latter part of 2014. Since Jan 2015, the SP500 has been ranging in a fairly narrow range and to be honest, it's getting a bit boring.
D+ has just this month crossed below 20 and ADX is pretty much flat, albeit at a nice high level above 40. A cross below 40 would kind of suck while both D+ and D- are below 20, because it suggests more ranging. I'm hoping (should never do that, I know) for a break of either 2125 or 1967 because that would mean the SP500 might start trending again.
If 1967 breaks, I'll target 1735 as the next strong support level. To the upside...who knows, just buy if it continues going up through 2125 and use your preferred trailing stop. Don't question why it's going up either, that cost a lot of people a lot of money and missed opportunities since 2009. Just buy because don't question fundamental logic, that's why! ;)
