Top trade idea for July 13th, 2016


Stocks recovered very nicely and sharply since mid of February so new bullish reversal is here. Reason for a bullish trend is a five wave rise from 1802 which is an impulsive structure that shows direction of a trend. As such, we will continue to look even higher if we consider that recent retracement down to 1980 psychological level has a corrective look, possibly wave II flat correction that appears completed.

S&P500, Daily

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On the lower time frames, S&P500 is trading nicely higher for the last few sessions, now in the middle of a red wave 3) that can continue up to around 2170-2190 area in the next few days after a completion of wave 2) at 2065. So as long this level holds we believe that S&P will stay bullish for new all-time highs.

S&P500, 4H

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About Gregor Horvat

Gregor Horvat, based in Slovenia, has been in the forex markets since 2003. He is a technical analyst and individual trader who has worked for Capital Forex Group and He also is founder of forex services on provides technical analysis of the financial markets, highlighting behavioral patterns based on the Elliott Wave Principle (EWP). Website: Try’s Services Free For 7 Days at

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