Wednesday, December 14, 2016

SPX ahead of FED

Greetings traders,
Lately we have witnessed a significant rally for SPX.
Currently SPX is hitting the upper border of its channel.
RSI is overbought at 77.5
We have the FED (miniscule) tightening, already priced in by the markets and Christmas holidays following.
For all the above reasons we believe that SPX will move sideways forming kind of a rounded top and then proceed with a correction towards the midline of the channel.

Trade safely!