There is still no swing entry in SP500, but I feel we are getting close to it. Advance Decline Line and Insider Accumulation did an amazing job predicting all major moves. We want to wait till they speak again and hopefully, we will get divergence. For now, I focus on intraday and short-term trading. Based on cycles we can expect a rally this week. I can’t predict price action, but I have a few scenarios on my mind:
getting above Friday’s high on Monday is a short term buy signal
formation of Oops pattern on Monday
Turn-Around-Tuesday (if the market is down hard on Monday, it usually rallies on Tuesday into Wednesday)
So, let’s look for and take a very short-term buy signal in SP500.
getting above Friday’s high on Monday is a short term buy signal
formation of Oops pattern on Monday
Turn-Around-Tuesday (if the market is down hard on Monday, it usually rallies on Tuesday into Wednesday)
So, let’s look for and take a very short-term buy signal in SP500.