MVedra

Break point lower for SPX following 7 days up in a row?

OANDA:SPX500USD   US SPX 500
21 0 3
Strong channel up is being challenged this session open - watch for market to trade sideways from here
Comment: To expand: today chose to bounce off of the channel lower bound like prior 2 days, however sellers showing resistance at 2350 drove the price down again - bearish signal. 2350 is a key mental level, and recommend selling SHORT here for an aggressive entry, or waiting for momentum to turn before setting short entry price.
Trade closed: target reached
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