$S&P;500 UPDATE

$S&P;500; held 4,320 and extended the rally further once it took out critical resistance zone of 4,415-4,420.
13th and 14th were key CYCLE DATES here and we have seen upsides expanding sharply on these dates.
Frankly there is nothing more to add on from what we posted on 8th,NOVEMBER,
which was our last review here,
even if you bought SPY futures on 8th,NOVEMBER with stops below 4,320 then also you would be at good profits as of today.
In 2023 this has been the first trader friendly rally on S&P since APRIL.
So going against the momentum was never a wise thing to do also we never had that intentions.
even though we were looking for the rally to terminate,
we were focused on CYCLE DATES and LEVELS.
Next CYCLE DATES are coming up on 24th and 27th,
PATTERN supports have shifted higher to 4,450,
As long as 4,450 is held,
there is no point going against the trend.

Leave a comment