The S&P 500 is getting ever closer to our short entry zone which we believe could be a medium term top for the SPX Index – yes we know everyone is saying that now! We’ve slightly narrowed the date range by pushing the beginning of the zone back to next week. We’ve left the end of the time zone at around the 6th December but depending on movements in the meantime we could change this.
Price wise there is quite a large zone at present – which is also a function of time. Those who follow us understand the importance we place on time. Again will will attempt to identify a narrower zone in due course but this Index has been extremely tricky.
We are also still quite interested in one long entry before the year is out. The current move up has been unrelenting since the 13th October and it is at some nice technical levels for a small but sharp retracement down to below 4640.
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