Hello Everyone,
The SPX continued managed to make new recent highs today following yesterday's (a-b-c pullback). Higher highs and higher lows remain intact since the April 6th bottom at 4069.84 with the SPX exhibiting an expanding diagonal pattern since that time. Price continues to ride its 9 day EMA higher and thus one can trail up stops in conjunction (especially since we can now count 5 waves up in the expanding diagonal - this can extend but wise to trail stops upward).
ES rallied from the 4118 support level and made it up to the 4170-80 resistance zone today. Above 4180 could target 4205 but again trail up stops/trim in accordance with your plan. Support for tonight 4161 and 4148.
JPM BLK C PNC WFC (Banks) and UNH reporting tomorrow
Please take a moment to look at the trade ideas.
