SPX - Looking like a bounce off the middle-channel line. LONG

31 Eki 2018

Here we want the current price to retest the top of the channel THEN FALL.
But if you notice in February, it. bounced off of this middle channel trend line we have.

11 Kas 2018

Not

Bounce did as expected, but on a smaller time-frame, it is using the 61.8 retracement zone (daily chart) from recent high to October low, so looking a bit negative, however we’ll give the longer term time frame the benefit of the doubt, as well as keep an eye on the VIX, GLD and the DXY (USD index).

Also, will keep an eye on other key levels and statistics including
- out of the past 17 or 18 mid-term elections that occurred in October, the year finished approx 10% higher than it’s October low (something worth noting)