S&P500 is testing resistance 1130-1150. S&P500 signalled a BUY back on 12th July with a move and close above the Daily 20ema at 1080. S&P500 has now closed above the 50ema(1098) for 9 days. The 10ema (1110) > 50ema(1098) gave another BULLISH signal on 26th July. 117pt move over 23 days from 1st July low 1011 to High on 4th Aug 1029 has limited upside with Resistance at 1031 and Slow Stoc over bought at 95. S&P500 has been consolidating in the 1000-1200 region for 12 months
BEAR View
S&P500 stalls around 1030-1050 level, then falls to 870-890 in the Autumn
BULL View
S&P500 finds support at 50ema (1098) level before moving up to test 1200. Similar move seen in Feb-Apr will see the S&P500 top out 55 days after the low on Friday 17th September in the 1200-1220 region.
| Date | Trade | Price | Stop | Target | Profit |
|---|---|---|---|---|---|
| 02Aug | BUY | 1105 | 1090 | 1130 | £220 |
| 29Jul | SELL | 1105 | 1105 | 1090 | £0 |
| 22Jul | BUY | 1075 | 1105 | 1130 | £300 |
| 21Jul | SELL | 1075 | 1075 | 1040 | £0 |
| 20Jul | BUY | 1072 | 1075 | 1130 | £30 |
| 16Jul | SELL | 1085 | 1072 | 950 | £130 |
| 07Jul | BUY | 1035 | 1085 | 1130 | £500 |
| 22Jun | SELL | 1115 | 1035 | 950 | £800 |
| 10Jun | BUY | 1068 | 1115 | 1130 | £470 |
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