Option Investor
Update
HAVING TROUBLE PRINTING?
Printer friendly version
SPX is breaking its neckline and confirming the reverse head and shoulders. If it closes above the April 2nd high it not only confirms the reverse head and shoulders but confirms the higher low made on March 30th and "officially" turning the trend to up.

If the SPX closes above the black trend line I will buy the SPX and wait for it to reach the magenta trend line. At this point I will put my stop to the just below the April 2nd high and add to my position. There is not a lot of resistance between the April 2nd high and the Febuary 9th high so that move could be fairly quick.

[Image 1]

Market Monitor Archives