Due to the current divergence in both GOLD and EUR/USD, and the current support levels, looking for a rise in SPX to at least 1098. If we breach that level, then there is a good chance we will take out the 52-week highs. Just check out the chart below:
This looks like a possible Wyckoff Schematics in the making, in which case the latest 2-hour bar on the chart is the “Spring” (Check out my post about Wyckoff Schematics to find more). Though, we steel need to break above 1100 for this to be true.
My advice is to buy 1/2 of your initial position right now with a 5 pt. stop and add above 1100. Also, watch EUR/USD for hints any hins.
