Big Price Action and Flag Targets for SP500

2016 begins with a big bang! Are you safe as we start the new year on a volatile note?

China’s stock market tumble spread globally which began 2016 on a bearish note.

Let’s quickly trace the “Flag” Trendline pivot points and targets and plan a quick strategy from the current chart.

2016 begins with a big bang! Are you safe as we start the new year on a volatile note?

China’s stock market tumble spread globally which began 2016 on a bearish note.

Let’s quickly trace the “Flag” Trendline pivot points and targets and plan a quick strategy from the current chart.

S&P 500 Daily Chart

Take a moment to reference my prior post “A Flat but Not Boring 2015” for additional commentary.

For now, we’re focusing on the 1,991 confluence level which is the overlap of the 50% Fibonacci Retracement and the lower “Flag” or falling parallel trendline channel trendline as drawn.

So far, the low of today’s session (mid-morning) is this pivot spot.

Look to trade short-term bullishly for a bounce “up away from” our pivot target or else continue the sell-swing or breakdown “away from” the 1,990 level lower (toward 1,960).

We were expecting a lower swing to take place this week but it occurred in one session – you’ll benefit from real-time analysis and weekly planning as a member of the Afraid to Trade community.

Here’s a portion of a chart I shared and discussed with members as a teaser for you:

S&P 500 Weekly Chart

I provide detailed analysis, strategy planning, targets, and price triggers each week for members.

Note the Daily Chart Flag Pattern and plan your short-term strategies accordingly.

For more daily updates from Corey, visit his blog at Afraid to Trade.com.