Macro Swing Trade Now Triggered on the S&P
Yesterdays market action down through 2688 sets up a swing trade of the move from the February 9, 2018 low of 2532 and the recent high of 2939, a move of 407 points. Doubling that on the downside swing sets up a Macro Trading range move down of 814 points, or a price level of 2125, around October 2016 levels.
In the short term, a new trading range of 2649 to 2729 with a swing point of 2689 is in place. It may not last very long.