IvanLabrie

SPX500: Watch for 2209.70...we're heading there

FX:SPX500   Indeks S&P 500
Dilihat 623 kali
23
623 5
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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Ivan Labrie

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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.

Idea Berkaitan

this has made new high, and still not showing reversal sign yet.
Balas
IvanLabrie Asifshami15
Yes. Let's see if it hits the target I had here. It looks like it will hit that at the top. So let's wait for that to short.
Balas
Hi, when should we short?
Balas
Hey Ivan, following your charts, good review for me! I'm still looking for that spx pullback. Not sure how confident I am that it happens tomorrow with JPM earnings, I think will beat or at least meet estimates.... and before US markets open BOE is rumored to be taking some rate cut action.
Balas
IvanLabrie Fitzndahyouwz
Yes, I expect volatility. I'm short for the time being.
Balas
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