S&P 500: trading plan for Tues 4/03/2017

The daily candle put in a pivot low/bottoming tail at 2344 after terrorism concerns via St Petersburgh, Russia triggered a bout of risk aversion.

Daily chart has held Fib 75% resistance on concerns the trump trade has failed and is built on hot air given his health care bill failed to get enough votes.

Weaker economic data in the US + UK failed to support the bullish thesis from EU with stronger PMI and employment numbers.

A drop in US auto sales also hurt sentiment.

60 mins chart is in no mans land , asian markets will now dictate

Resistance seen at : 2370 , support seen at 2325 , 2340.

10 mins - support seen at 2350-2344.

game plan tomorrow: Long at support zones above provided fundamentals confirm, short at resistance zones above given bearish FA

happy to short at 2362-64 zone...targeting 2354-2344 .

  

E-mail me when people leave their comments –

You need to be a member of inter-market-analysis.com to add comments!

Join inter-market-analysis.com