SPX500: Watch for 2209.70...we're heading there
It appears like the S&P500 index is rallying due to a large short squeeze after breaking the Brexit high, and the ATH so far. There was an 8h uptrend signal here, but the time is running out in 7hs and 30 minutes. I'd watch it to see how it evolves, and wether we hit the potential top target at 2209.70. I'd be inclined to fade it, if we hit this target soon.
I'll update this as we move forward. For the time being, holding long positions in undervalued stocks is probably wise.
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Cheers!
Ivan Labrie
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We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask.
Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
I'll update this as we move forward. For the time being, holding long positions in undervalued stocks is probably wise.
Check out my updated track record here: pastebin.com/6CyyqnPT
If interested in my real time whatsapp alerts and swing trading newsletter, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year.
Cheers!
Ivan Labrie
Link to Tim West's chatroom: www.tradingview.com/chat/
We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask.
Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
Komen:
It's possible the time target expiration is taking over the secondary target, relevance wise. I think we will drop from here instead of moving higher based on today's action. You may short under tomorrow's low.
