S&P500 - At The Centerline, Potential Pullback
First, there are two very nice Sine-Waves.
These are "complex" legs in the count from 0-5.
Currently price is fighting at the Center-Line.
It's the same price region where the market found its prior support.
There are two possibilities when we reference the Medianline (Pitchfork) rules:
1. Price will hold at the Center Line and pull back in the opposite direction. The major target would be the U-MLH (Upper-Medianline-Parallel).
2. Price will shoot through the Center Line, pullback to it and continue its path (in this case to the downside). The major target is the L-MLH.
Are there any other signs to give us a clue for a Long or Short Trade?
Let's see:
- the Stochastic is heavy oversold.
- the Delta has good divergence.
- price at prior support
How to play it?
Why not reduce the risk and go with Micro Lots, or some SPY BP Spreads, to maintain you good sleep §8-)
These are "complex" legs in the count from 0-5.
Currently price is fighting at the Center-Line.
It's the same price region where the market found its prior support.
There are two possibilities when we reference the Medianline (Pitchfork) rules:
1. Price will hold at the Center Line and pull back in the opposite direction. The major target would be the U-MLH (Upper-Medianline-Parallel).
2. Price will shoot through the Center Line, pullback to it and continue its path (in this case to the downside). The major target is the L-MLH.
Are there any other signs to give us a clue for a Long or Short Trade?
Let's see:
- the Stochastic is heavy oversold.
- the Delta has good divergence.
- price at prior support
How to play it?
Why not reduce the risk and go with Micro Lots, or some SPY BP Spreads, to maintain you good sleep §8-)
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