(26 OCTOBER 2018)S&P 500:Capped by a negative trend line.

Pivot (invalidation): 2723.00

Our preference

Short positions below 2723.00 with targets at 2684.00 & 2651.00 in extension.

Alternative scenario

Above 2723.00 look for further upside with 2755.00 & 2779.00 as targets.

Comment

As Long as 2723.00 is resistance, expect a return to 2684.00.

(By Swissquote TRADING CENTRAL)