In the last few weeks, I have not had much for positions to write about. Mostly my trades have been on the short term, opened and closed within the day or maybe two. With nothing in for longer term positions, I thought I would throw up my current day trade I am in from earlier today.
This morning I opened a long position on the S&P500. The move up off of the open this morning showed some potential for continuing, so I took an entry in the direction on the first retracement on the hourly chart.
I expect this trade to be good for a few hours at least, then if we break resistance at the 1869.00 area, the trade could turn into a longer hold. If resistance at 1869.00 seems to be holding, then I will likely take out the position at that level.
Daily outlook shows a possible target of 1880.00 with a break through current 1869.00 resistance today.