Bullish trend in SPX is intact

Παιδιά βάλτε ένα χεράκι να ξελασπώσουμε…..
September 25, 2018
OIL bulls need to be very cautious
September 26, 2018

Good day everyone!!! As spx pulls back from 2940 towards 2920-2910 I continue to see this as a pull back before the resumption of the up trend towards 3000 points.

In the short-term SPX has pulled back towards 2920 support area and continues to trade around it. If we break below 2915 I expect prices to move towards 2900 which is my next support area.

 

The 2900 level is also the 61.8% Fibonacci retracement of the rise from 2876. Resistance is at 2930 and as long as we remain below it, prices are vulnerable to a move to 2900. For more free analysis follow me on twitter @alexanderyf

Thank you for  taking the time to catch up on my thinking.

Alexandros Yfantis
Alexandros Yfantis
Fascinated by financial markets, studied International Securities Investment and Banking in the UK, works as a Portfolio Manager in Greece and runs a technical analysis website. Enjoys travelling and spending time with his family and preparing for the black belt in Korean Karate.