SPX500 (Daily) trading sideways and below the 50 SMA fürFX:SPX500 von orvilleawright

spx500 orvillewright support supportandresistance price-action structure-trade dailychart

SPX500 (Daily) has been trading sideways and below the 50 SMA. Price halted it advance without tagging 2200, then fell sharply to the 38.2% retracement of the previous up swing. The uptrend that started February 11 2016 is still in tact since price has not broken any significant swing low. Currently most of the price action is contained within the bearish candle created September 9 2011.

I may trade all, some or none of the ideas posted. All of my contributions are for educational purposes only. 'TRADE What You SEE'' and all the best!