S&P 500 uptrend can continue until Fed meeting with new 2015 ATH

The market bought up the downtrend risk as if the Paris attack never happened with a short squeeze on Monday which turned into a real strong uptrend and now it is back to my "rally until the FED speaks in December" plan, which I posted earlier. I hate to flip flop so much, but the market is in such a key pivotal area here between breaking out to a new yearly high or creating a super bearish double top, which would be the start of a recession in 2016.

If we do get a new high I see it happen around the monthly R2 pivot price slightly above 2040 points.

Entry: 2050 (when it dips lower next week)
Stop loss: 2023
Target: 2040

Kommentera:

Three days later than I had expected the S&P 500 finally turned up high enough that the MACD on the daily gives the buy signal I predicted to happen between Monday-Tuesday this week:

Signal line crossed bullish with MACD: