brought to you by: TRADERSAI – Artificial Intelligence directed by Natural Wisdom
S&P 500 Index #SP500 #SPX #SPY #ES is testing the 2715-2705 consolidation band again – for the second day in a row since originally forecast on the 22nd night. If the index closes below this band today, then the bears will gain initial strength, but until then the mild bullish bias is still intact.
As of now (1108am EDT, SPX at 2713.50), the session’s low registered at 2706 and high at 2733.25. Our models indicate that the day’s low might be set at this level – let’s see if it comes true at the session close.
While the bulls are weak today, there is no bearish bias until at least a break of 2705 (for intraday, aggressive traders) or 2680 (for short term to medium term investors). Depending on your trading style and risk appetite, know the levels models indicate to place your trades today.
Exercise caution if selling short – you are still playing in the bull territory, even if of a weakened bull.
Good luck and safe trading!