03/20 – 03/24 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 2400.98 and 2353 on SPX (240.32, 235.50 for SPY ) which are also the highs and lows on weekly chart of the last 3 weeks. As long as SPX hold 2353, stay bullish and watch for follow through to clear 2367 (239.44 for SPY) and after all time hi 2400.98, trading strong sectors/stocks. If bears build up power and broke 2353, see if they hold and watch for follow through to 2335 on SPX ( 233.40 for SPY), trading weak sectors/stocks.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s