S&P500 Breakout

S&P500 jumped at the opening of the futures market. Price managed to break the 3530.00 resistance level. With price action being extremely bullish avoid shorts when momentum is on the upside. On the other hand, we’re overdue for a pullback. We could see the price re-test the 3530.00 level again. This could be a good buy opportunity.

Charts:

S&P500 BREAKOUT by EmpowerTrader on TradingView.com

Trade Plans

Buy:
The equity market is very bullish right now, look to long with a tight stop loss on a sizable pullback. I think 3530.00 looks attractive as it acts as strong support. Also, momentum is on the upside, never underestimate momentum!

Idea#1:
Buy 3530.00
Stop-loss 3430.00

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