S&P counted but still not K.O.
Longterm view:
The longterm uptrend is still intact. The actual consolidation seems to be healthy, not exsessive.
- If the market will not break this longterm trend, the possibility is given, that the trend will be assumed an new Highs can be aimed. (blue dotted line)
- If the trend breaks and the market is traded below it s 200 ema/sma (mangenta) i exspect a further selloff to it s minimal correction Level (fibo 38,2) @ 1.575. (red arrow)This Level is corresponding to the longterm breakout Level. This should be a strong Support Zone.
The huge Zone between 1.800- 2.100 can be seen as a neutral Zone. IMO here is no cction needed.
Trading possibilities:
- Stopp Sell @ 1.800 (trend) / 1750 (ema) with TP 1.575
- Long between 1.800 / 1.950 with TP1: ATH TP2: 2.350
The longterm uptrend is still intact. The actual consolidation seems to be healthy, not exsessive.
- If the market will not break this longterm trend, the possibility is given, that the trend will be assumed an new Highs can be aimed. (blue dotted line)
- If the trend breaks and the market is traded below it s 200 ema/sma (mangenta) i exspect a further selloff to it s minimal correction Level (fibo 38,2) @ 1.575. (red arrow)This Level is corresponding to the longterm breakout Level. This should be a strong Support Zone.
The huge Zone between 1.800- 2.100 can be seen as a neutral Zone. IMO here is no cction needed.
Trading possibilities:
- Stopp Sell @ 1.800 (trend) / 1750 (ema) with TP 1.575
- Long between 1.800 / 1.950 with TP1: ATH TP2: 2.350
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