SPX - Objectively: Bull channel intact - About to be impaired.
SPX does not climb much but is well retained by its supporting channel (So far).
The Channel shall be damaged on the next correction and decisively broken to the right on the subsequent correction.
The process will take time. This year is probably a messy/flat year with both new tops and new bottoms on each leg.
Strategy: trade the range with wide stops.
Trading: Short now in 30% size and reverse into long around 1970.
The Channel shall be damaged on the next correction and decisively broken to the right on the subsequent correction.
The process will take time. This year is probably a messy/flat year with both new tops and new bottoms on each leg.
Strategy: trade the range with wide stops.
Trading: Short now in 30% size and reverse into long around 1970.