S&P 500 – Price Action Suggest Heading for Yearly Highs | Aug 18

S&P 500 – Heading For Yearly Highs
As we talked about in our weekly market commentary, we felt the price action + the with trend pin bar along with the 4 out of 6 bull closes suggested the V-bottom and bullish price action should continue. Today the US index broke above the pin bar top and closed on the high, suggesting little to no profit taking.

1986 and the yearly highs at 1990 seem to be up next within this week. Some bulls may take profit ahead of the key level, however considering this has been another V-bottom in this very long uptrend, I’m suspecting new yearly highs will be produced soon, perhaps touching 1995 or the big figure at 2000. Until we see a bear close taking out the prior days lows, stay bullish


Read Lucy & Forex Trading – What to Learn From the Movie

Want More? My private members get all my trade ideas & market commentary up to 3x per week. Click here to become a member.

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.

Related Article