I am sharing the trading plan for the S&P500 I have sent on January the 17th, to my newsletter subscribers in the mid-week update (see an example here) . I will update this plan on Wednesday with what I anticipate in the S&P500 going forward using the Program Trading rules found in my Trading Method.
‘The S&P500 hit first target at 1472, from the setup originating at the 1390 support area. The below picture shows the new potential scenario for the S&P500.
Price did not correct down into the 1427 or 1444 area, but hit a support area represented by a traditional with an entry in the 1459 area and first target at 1477 and second target at 1487. The first target was hit today and if price keeps moving higher we could see a relative high at 1487. After hitting the 1487 target, if price gets there, we could see a mild reaction into the next support and extension long at the 1480 area, with a first target in the 1491. We could also see a reaction lower into the 1473 area before a new move higher would start.’
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