TripsTrading S&P500 Weekly update!
Based on our analysis of the 4h chart, we still consider a short position into the end of MAY (MAY 25 = 35 day cycle) with targets in the 2020-1996 area. Looks like we are currently riding wave b of ii-c down.
On the daily chart the SuperTrend indicator is telling us to sell the rips as long as the index trades below 2085. The in-house developed Swing Alert is on a SHORT since MAY 12.
Based on the monthly chart of the S&P500 we expect new highs into the end of the year. Fibonacci support @ 2010-1995.
In-house developed Swing Alert track record and FREE reports can be found on www.tripstrading.com
Happy Trading! www.tripstrading.com
Submitted May 17, 2016 at 07:15PM by MTrading1 http://ift.tt/27xiQkW
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