02/27 – 03/03 S&P 500

spx     spy

As you see in the charts of SPX and SPY ( traded ETF for S&P 500 ) market have a clear move, with higher highs(HH) and higher lows(HL) from 11/09 when Trump was elected as president of US, also we have a accelerated trend line ( with purple on SPY chart).

The prior pivots for trading this week is 2355 and 2368.25 on SPX (235.50, 236.90  for SPY ) which are also the highs and lows on weekly chart of the last week. As long as SPX hold 2355, stay bullish and watch for follow through to clear 2368.25 level, trading strong sectors/stocks. If bears build up power and broke 2355, see if they hold and watch for follow through to 2351 level and after to 2336 level on SPX ( 235 , 233.50 for SPY), trading weak sectors/stocks.

 

 

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