Indeks S&P 500Panjang
$SPX: Trading in a Channel
The S&P appears to be advancing in a well defined channel with a line of support within.
Intermediate term target is 2177, but I believe we are in a 3rd wave and could see possible resistance at 47, 49 or 52.
Trading Views daily R1 is 52 and SC's.com R1 is 49, The R you see is 30 min resistance.
Watch VIX as part of any plan to short as a rising VIX gives you the benefit of the doubt. But we are in second day of OPEX week and recently OPEX weeks have been strong.
I'm very uncertain as to how far this puppy might fall. Best case would be 2122 but that is surrounded in uncertainty and would require breaching the channel and 2131.
More questions than answers.
Intermediate term target is 2177, but I believe we are in a 3rd wave and could see possible resistance at 47, 49 or 52.
Trading Views daily R1 is 52 and SC's.com R1 is 49, The R you see is 30 min resistance.
Watch VIX as part of any plan to short as a rising VIX gives you the benefit of the doubt. But we are in second day of OPEX week and recently OPEX weeks have been strong.
I'm very uncertain as to how far this puppy might fall. Best case would be 2122 but that is surrounded in uncertainty and would require breaching the channel and 2131.
More questions than answers.
Penafian
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