Market Structure: SP500 is in an uptrend making higher highs and higher lows and approaching a key level (support, uptrend line, swing low) and there is likely an accumulation of sell orders which are made up of breakout traders and stop losses of long positions. This accumulation of orders creates enough liquidity for the market to match orders at this low point before positioning to go higher.
Trade: Wait for price to close below the swing low point and enter long on a buy stop @ 4378.60
Trade: Wait for price to close below the swing low point and enter long on a buy stop @ 4378.60