SPX- S&P 500- How far S&P 500 can go?

14 Dis 2016

Monthly chart
From 2009 lows of 667 -it has rallied in a parabolic fashion to current highs of 2277 which can be counted as near to 5-waves in blue color on Monthly chart.

Daily Chart
Since 1810 lows in Feb2016- all waves overlap, giving an impression of wedge structure - an ending diagonal.

4H chart
Trendline passing through 1- 3 wave has holded as if now & can act as resistance for short term.

Short Term Trading Strategy
Keeping resistance intact from trendline passing through 1-3 wave - we can expect some correction going into zone 2187-2200 in coming days.

Long Term Trading Strategy
Once trendline passing through 2-4 wave in daily chart gets breached downside & possibly it starts moving below 2080 -that will be indicate that SP500 has put the top- in that case setback can be seen going into 2017.

22 Dis 2016

Dagangan aktif

18:20 Hrs 22nd Dec2016

Last Price@2265

Prices had a sharp fall till 2248 on a Fed Day - post that session-it is moving sideways so kindly avoid taking sell positions till Fed Day@2248 is broken & it sustains down or wait for a new high to take sell positions- Which I shall update here.