We did have a surprising move from the spx500 as it broke above old Resistance of $2940 and currently sit at $2951.
We want to see the old Resistance become new support for a trend continuation upward for the bulls.
The daily, 3 day and weekly are all green. Which can help validate how strong this trend reversal is.
I'd look to find a long term position on a short below 2940 or a long 2950, will play tight stoploss.
If support cracks this could be a fakeout and return with a massive selloff.
Perfect compression play setup with our Crossover strategy.
As of now we are bullish.
Time to get aggressive on the spx500.
Have a blessed day! 😁
🥇MLT | PRO TRADERS
We want to see the old Resistance become new support for a trend continuation upward for the bulls.
The daily, 3 day and weekly are all green. Which can help validate how strong this trend reversal is.
I'd look to find a long term position on a short below 2940 or a long 2950, will play tight stoploss.
If support cracks this could be a fakeout and return with a massive selloff.
Perfect compression play setup with our Crossover strategy.
As of now we are bullish.
Time to get aggressive on the spx500.
Have a blessed day! 😁
🥇MLT | PRO TRADERS
