S&P 500 – Corrective Pullback Into 20 EMA | Oct 27

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S&P 500 – Corrective Pullback To 20 EMA (4hr chart)
After launching post draghi speech like most global indices, the S&P 500 has gained over 50 points before hitting key resistance around 2075. Looking at the structure of the pullback, it’s showing an impulsive and corrective structure with the latter pullback into the 20 EMA.

Bulls have come in off this and the ST support around 2060. If this holds short term, we should see an attack on the recent highs and then a move towards 2100. If 2060 folds, then I’m expecting buyers to step back in around 2036. Only a daily close below 2030 would negate my ST bullish bias.


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Buddhist, Trader and Philanthropist

I'm Chris Capre, Founder of 2ndSkiesForex. I help traders of all levels change the way they think, trade and perform. As a professional trader, I specialize in trading price action. As a teacher, my passion lies in showing you how to re-wire your brain for successful trading. Want to improve your edge right now? Visit my Price Action Course page.

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  • Itayi

    And then the other guy comes out with a video on the same instrument a day after….mmmm, coincidence I guess :-))

    • Chris Capre

      yeah thought it was funny to…the really funny thing is there was no live trade, and he actually hasn’t shown a single live trade he’s actually in since 2012 :-oo0
      so says something there IMO