SPX has approach the lower channel while S&P futures has clearly break the lower uptrend channel(red) . If S&P break the uptrend channel, I reckon two circumstances is going to happen:
1) S&P will go sideway at the moment before it find a new direction like what happened in mid of April.
2) S&P fill the 2867 gap, before a new trend is formed.
Sideway
- the...
-S&P and Nasdaq futures both did a head and shoulder which signal a top especially when the bull took control for so many days. Took half of the position off the table first and let the remaining on the run.
- Not easy to short the market just yet because the overall trend is still bullish and this is merely just a retracement so far, more confirmation needed to...
There are no sign of stopping on Nasdaq in my point of view, and do not rush on taking profit off the table just yet. Do not underestimate how strong this bullish trend is and continue to ride until we see a sign of reversal.
There will be enough time for profit taking under such bullish market, do not afraid to lose your profit and thinking that market will...
