| Swing System Trading |
| Current Position: | Short from SPX 1938 on 2016-02-23 |
| Indicator Divergences: | Neutral |
| Indicator Extremes: | Very Negative |
| SMA Setup: | Very Negative |
| S/R Levels: | 20SMA 1895, gap/trend line 1900ish, 50SMA 1952, Fib 50% 1950s, Parabola/H&S 1950s, Fib 62% 1990s |
| Sentiment: | Short-term Negative, Medium-term Positive |
| Important Events: | N/A |
| Trade Plan: | SPX 1900-1910 appears to be the next support zone for partial profit-taking while reloading on bounces. The System may reverse long if it rallies to 1950+ unless many negative divergences develop when it does. Due to the lack of negative divergences at the SPX 1947 high and gap supports, I expect a new rally high or at least a test after the current downtrend ends. Good fortune. |
No comments:
Post a Comment