Most would have been caught on the short side. Expecting short covers and FOMO to push prices above 3685 (a level I was cautious) into 3720 level.
Would be happy to hear more thoughts and comments from fellow traders.
Would have gotten filled if limits were placed at levels that I highlighted in my previous post. Still leaning towards Long, but watching how price action move towards 4685 level.
SPX500USD looking toppish on the hourly chart, could see pullbacks towards the weekend. While keeping in mind that macro backdrop still look positive for the index - 1) Dovish Fed, 2) Strong earnings, 3) Corp buybacks.
Waiting to see if it can dip towards 100 hourly MA, a good entry point to buy the dip.
After getting hit hard by interest rate in the last couple weeks, the rebound has been fast. Expecting upward momentum to continue ahead. We might see SPX revisiting ATH at 3962 in the next couple of days.
Given target price at 3960, price looks attractive here at 3900 with downside at 3880.
SPX has been bouncing off 3800 and 3850, suggesting that recent interest rate fears being priced in. The pullback in 10yr yield should be positive for the market, in fact, if it pulls back further, we could see SPX breaking above 3850 into the 3900 levels.
Markets have been driven by interest rate move in recent days. Expecting SPX to continue its weakness over the next few days.
But could there be bottom-fishing? I think it is likely.
Looking for price to retrace down to 3830 levels before rebounding back to 3900.
Let me know your thoughts.
Expecting further upside given accommodative monetary and fiscal policies. Waiting for the pullback to 3860 levels should provide a better risk-reward ratio. Let me know your thoughts.
U-turn happened really quickly. An indication of bulls coming back in, but I would want to stay conservative. Wait for a pullback to 3123 before adding, should give more favourable risk reward.
Looks like 3100 is hurdle is clear, next destination would be 3300. Two ways it can go right now. If there is no negative headline, we are probably on the way up from this level, else could see it test lower at 3150, before heading to 3300
