SPX (S&P) US500 - Technical & Fundamental view.
Pattern: Smaller term - Wedge Longer term: Channel
Support: 3828, 3820, 3792 (200EMA)
Resistance: 3860, 3870, 3895
Break to either direction confirmation for which momentum trade to take. Keeping in mind end of month flows.
Fundamentally: Today: CB Consumer Confidence & Wednesday FOMC - Could shake the market considering is the QE needed to the extent of 1.9 Trillion, US Data, and of course FED are dovish longer term but for now will be interesting....!
Key tip: Patience is key, wait for the break out - trade the re-test.
All the best,
Trade Journal
(Just a trade idea, not a recommendation)
Pattern: Smaller term - Wedge Longer term: Channel
Support: 3828, 3820, 3792 (200EMA)
Resistance: 3860, 3870, 3895
Break to either direction confirmation for which momentum trade to take. Keeping in mind end of month flows.
Fundamentally: Today: CB Consumer Confidence & Wednesday FOMC - Could shake the market considering is the QE needed to the extent of 1.9 Trillion, US Data, and of course FED are dovish longer term but for now will be interesting....!
Key tip: Patience is key, wait for the break out - trade the re-test.
All the best,
Trade Journal
(Just a trade idea, not a recommendation)
Trade chiuso: obiettivo raggiunto
Trade chiuso: obiettivo raggiunto:
All positioned closed - I will be waiting now after FOMC.