SP500 H4

General Overview for 28/04/2014:
The impulsive wave progression on Daily time frame has not been finished yet and there is more upside to come up to the level of 2000 EASY.
Nevertheless, currently the market is in corrective cycle in wave 4  and this correction has not been finished yet. For intraday traders, in case of pre-mature wave (e) completion, the level to watch is 1837 points. Any breakout lower would mean that the lower boundary of the triangle shape will be tested and the wave (e) is likely to complete at the level of 1800 points. Please notice that this correction might get even more complex and time consuming.
Please notice that the sentiment indicator of Fear&Green is slightly rising and this supports the view of a more complex correction ahead.

Support/Resistance:
1800 - Main Intraday Support
1837 - Key Level
1833 - 61%Fibo
1863 - Main Intraday Resistance

Trading Recommendations:
Buy orders should be opened in key level at the level of 1837  with tight stop (no more than 1% of the account per trade) and TP level above the last swing high.

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#MCD McDonald's Daily

General Overview for 22/04/2014:

This pair is in the uptrend  and might hit the price target of $110 before any meaningfull correction will take place. The market moved through key support at the level of 99.09 and now it is moving upward to test the previous high at the level of 101.08 and then move even higher into 101.50 orange rectangle area. If this zone is broken, then  last swing highs will be tested - 103.64. As the NLR model slope is pointing to the north, the current target from 1-to-1 Bullish Flag projection level point to the level of 110.

Support/Resistance:
103.64 - Swing High
101.50 - Demnad Breakthrough Zone
99.09 - Technical Support

Tradaing Recommendations:
Buying the dips is the good strategy here as long as the level of 99.09 provides the support. Good time to open a swing long position.

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