Potential Buy Alert

SP500 Index

Index : SP500 Index

Current Price : 2436

Status : On watch for a short squeeze

The SP500 kicked off higher, after the last alert below, up to resistance where price action has since contracted lower. We are now watching for another short squeeze after a higher low is built. There is still some work to do for evidence that buyers are stepping in but we are on watch for the higher low for the entry setup.

Previous Alert 22/8/17

Index : SP500 Index

Current Price : 2436

Status : On watch for a short squeeze

The SP500 Index is in a great area to put pressure on the sellers to squeeze them out and move higher. We see the potential now after recent selloffs to hold above the minor anchor at 2407 for a continuation trade into new highs. The recent selloff has dragged in fresh sellers as they anticipate a high but they may just end up being the fuel to move the Index higher. Time now to sit back and watch for a buy entry setup.