8 replies to this topic

[redfoliage2]

Currently Neutral.

 

[redfoliage2]

Expect the bounce to continue  ...........

Edited by redfoliage2, 02 May 2016 - 08:54 AM.

[redfoliage2]

If it goes over 2074, then 2085 is the next target...........

Edited by redfoliage2, 02 May 2016 - 08:55 AM.

[gm_general]

It has to close at least 2086 today or its below the stochastics trend support - what happens then? What happened the last time was a crackup. What happens this time? As Morgan Freeman said in Lucy - "I have no idea!" But the MACD line has been trending down as the prices went up. Does not seem like something that could continue forever.

[barbu]

2016-05-01 20:05:58

05012016 SPX short term

In Friday’s session, S&P500 retraced 0.764 (2111.05,2033.80) to 2052.28 (Fib. 2052.03).

Usually by holding the support zone 0.764~0.768 is a Do Or Break (DOB) event.  So, let’s see if Monday's session will take out this support zone. The immediate resistance is 2072.43 & 2076.56, the details numbers can be found in the following chart

 

so far the session high is 2071.84 (Ongoing dynamic data)

 

http://www.chartuplo...58871118285.jpg

Edited by barbu, 02 May 2016 - 09:05 AM.

[redfoliage2]

It's highly probable that SPX will get over the 2072 today as the base for the bounce got solidified.  Now we should expect a higher target ............

Edited by redfoliage2, 02 May 2016 - 09:10 AM.

[redfoliage2]

Now the signal is turning toward Bullish side............

[redfoliage2]

It's in Bullish mode now with a resistance at 2093.

Edited by redfoliage2, 02 May 2016 - 09:21 AM.

[redfoliage2]

The signal turned into Bearish mode.

The bounce is likely done after the 0.618 retracement to SPX 2083 yesterday.