S&P500 is having a short pull back today after crossing over Resistance 1 (4515).
Despite the constant rise, it remains inside both the yellow 4 month Channel Up as well as the wider one from late last year.
This bullish wave draws similarities with May-June.
Trading Plan:
1. Buy on the current market price.
2. Sell if it crosses under the MA50 (1d).
Targets:
1. 4640 (Resistance 2 and top of both Channel Up patterns).
2. 4200 (projected course of the MA200 1d).
Tips:
1. The RSI (1d) is trading inside its own Channel Up. A break under it, could be an early sell signal to watch for the MA50 (1d).
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Notes:
Past trading plan:
Despite the constant rise, it remains inside both the yellow 4 month Channel Up as well as the wider one from late last year.
This bullish wave draws similarities with May-June.
Trading Plan:
1. Buy on the current market price.
2. Sell if it crosses under the MA50 (1d).
Targets:
1. 4640 (Resistance 2 and top of both Channel Up patterns).
2. 4200 (projected course of the MA200 1d).
Tips:
1. The RSI (1d) is trading inside its own Channel Up. A break under it, could be an early sell signal to watch for the MA50 (1d).
Please like, follow and comment!!
Notes:
Past trading plan:
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