X87
Long

Ready to be bull in the SP500?

OANDA:SPX500USD   S&P 500 Index
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The correction was expected and the entry point 2181 for the bear trade was never reached. What I see at this moment is the consolidation of a channel pattern. For the bull trade new entry 2198 after breaking structure. Be aware of the 5 times lady line has touched the pink line pattern. For this trade TP1 2204, then flag, and then TP2 2228 long term trade. Also Rising Wedge bear trade is still active below 2181. This moment is critical for the market to decide which direction to head. Also, if you compare DJ30 with SP500 0.18% and their correlation, be aware that US30 -0.07% correction after higher highs has been smaller in % terms than in SP500 0.18% . For this american indexes I always prefer US30 -0.07% market structure performance for the forecast.
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