FxWirePro: S&P 500 at critical juncture- a look at short term opportunities

S&P 500 is trading at critical juncture and bulls and Bears are having quite a fight. While one might point out that Bulls and Bears are always in fight but fight at this juncture is critical and result of the battle could define next big more in S&P 500.

We, at FxWirePro are of course with the bears as our call has been -

Sell S&P 500 @1890 and at rallies, with stop loss around 1960 and target at 1740 area.

We remain committed to our call, however do recognize that bulls are showing resilience and a break above 1940 area, could very well lead to hitting of stop loss. In the near term our calculation matrix, however generated one more short term call and once again in favor of bears.

Sell S&P 500 @1930, with stop loss at 1940 and target around 1880 area.

We, would strongly recommend this call, due to its superb risk-reward. For every $5 reward, risk is just $1.

On the bull side, we have not seen any call possibility, which is defying our stop loss around 1960 area. However we do recognize, if S&P 500 successfully break above 1940-1960 resistance zone, upside could be quite large and S&P 500 might target 2100 area.

We would discuss any of that in greater details, once opportunities arise.