S&P 500 – Set up to continue higher?

S&P 500 – Set up to continue higher?

S&P 500 – Set up to continue higher?

Take a look at the S&P 500 and what do you see?  Up? Down? Sideways?

S&P500daily

Do we see this as as an opportunity to buy?  Or a set up to reverse?   On the daily chart we see price has retraced to the previous daily swing high at the 2080 area of resistance.   If we see price hold under the 2080-85 area we could see it turn to test down lower to the 2055 area of support around the 50 Day MA.   If we see price move up through the resistance and above the 2085 area, we will likely see price retest the previous highs once again and even possibly move to test new levels of resistance.

For the next few days the 2080-85 area will likely be the key in looking for the next move.


 
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Day Trader Money Maker Edge Managed Fund. Trading Currencies, gold, oil, ETF’s and futures.

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