S&P 500: More Room to Run?

Published on
June 11th, 2019
Duration
6 minutes

S&P 500: More Room to Run?

Trade Ideas ·
Featuring Joe Perry

Published on: June 11th, 2019 • Duration: 6 minutes

Joe Perry, CMT, of ForexAnalytix, suggested buying the dip in the S&P 500 several weeks ago, and now returns to Real Vision to discuss how traders should play the current bounce. He highlights the impact of a dovish Fed, examines his charts using Elliot Wave analysis and Fibonacci retracements, and updates key levels for the trade, in this interview with Jake Merl. Filmed on June 6, 2019.

Comments

Transcript

  • SC
    Shiny C.
    13 June 2019 @ 02:45
    Thanks for the insight Joe! Personally more inclined to the alternate wave count shown in your chart; resistance in 0.764 retracement level and the bounce is on contracting volume. Though will change my mind if it broke through the resistance with increasing volume.
  • BJ
    Brian J.
    12 June 2019 @ 08:50
    That's more like it, straight to the point!
  • SM
    Stuart M.
    11 June 2019 @ 16:41
    Thanks for the update Joe, and thanks for responding to my question about the trade on Twitter!
    • JP
      Joseph P. | Contributor
      11 June 2019 @ 17:55
      My pleasure Stuart. Feel free to reach out to me any time!
  • JP
    Joseph P. | Contributor
    11 June 2019 @ 12:41
    Moving stops up to 2830, which would lock in +70/80 handles
  • DH
    Dean H.
    11 June 2019 @ 09:41
    Rate cuts at this stage of the cycle are not bullish