There are two new trades I will be opening up Sunday night.
The first is the SP500.
It made a daily closing not seen in 4 months. It did not break out on the upside how I would have liked it, but it made 3 touches on the ascending triangle. It broke the resistance on the fourth and closed above the resistance. These are bullish developments. It looks like it wants to challenge its all time high.
Target is 2900 for now. Place your stop at 2773.5. This is a very tight stop and I run the risk of getting whipped out of the trade.
The second is the New Zealand Dollar.
It broke down from its rectangle formation. Just like the SP500, it did not break the support hard. However I will take the trade anyway.
Target is 0.6250. Place stop at 0.6845.