Trading plan for the S&P 500 Index (#SP500)

S&P 500 Index

#SP500

The trend is bullish. The index is trading between the 365 EMA and the 135 EMA. A truncated bearish wave pattern concluded with a breakout of the trend channel. The Awesome Oscillator shows bullish divergence, while the Stochastic Oscillator indicates oversold conditions.

Trading idea:

Buy upon the formation of a bullish wave pattern.

Stop Loss: 7677.50.

Target levels: 7720.50; 7775.00.