Based on the Trade Triangle technology, the S&P 500 (CME:SP500) entered a long position today with a green weekly Trade Triangle @ $2,111.91.
8 thoughts on “S&P 500 Alert!”
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Based on the Trade Triangle technology, the S&P 500 (CME:SP500) entered a long position today with a green weekly Trade Triangle @ $2,111.91.
Comments are closed.
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Pace before one love!
In reference to yesterday's musings, I see the dollar is still languishing at a support line from early April and the only SPIDERS that are breaking out are XLK and XLY, Tech and Discretionary. Could this be a trap? Maybe tomorrow the QQQ will tell. Today I am looking at oil and semis, ready to short - not short - just ready. Transports are showing strength. I guess that's what makes this so much fun!
Somebody send me a check and I'll tell you the best trades
Why I ain't getting no money I ain't gonna put no money up
Oops. Wine correction. SPY target should be 214 or so 211-207 = 4. 4 + 211 = 215. Oh, the things I know !
Well, if this trade does work, it should extend the distance of the consolidation zone, about 207 to 210 the same distance again, to say 211 or thereabouts. My concern is that although the QQQ had a very convincing breakout today (which stored up some energy the last two days) the DIA and the IWM have not reached resistance yet, the breakout zone. The issue? The USD is at support and consolidating. With earnings season mature, and the Dollar at the bottom of a trading channel (as opposed the the SPY) if the dollar takes off it could jeopardize the SPY's rally as it is rather dependent on dollar weakness.
Oh, the beauty of red wine,,,
where do i exit on this trade for s&p
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