Where it going? ES!1 S&P-500 SPY SPX
Updated
Possibility #1
- The SP500 would cross:
a) its ma200 weekly,
b) along against a triple resistance,
c) and at the same time, the BB-Band-Hight,
d) and... also thru the neck of the inverse Head and Shoulders pattern.
Then, going to the January 2022 hight at 4800.
Possibility #2
- All these conditions constitute a strong resistance.
Then, the SP500 would regress towards its weekly Ma200, at the 3700 value.
Make your choice, or another option if possible?
- The SP500 would cross:
a) its ma200 weekly,
b) along against a triple resistance,
c) and at the same time, the BB-Band-Hight,
d) and... also thru the neck of the inverse Head and Shoulders pattern.
Then, going to the January 2022 hight at 4800.
Possibility #2
- All these conditions constitute a strong resistance.
Then, the SP500 would regress towards its weekly Ma200, at the 3700 value.
Make your choice, or another option if possible?
Trade active
The Inverse Head & Shoulders "NECK" has not been crossed up.So, we cannot yet declare a Long trade, on the weekly chart.
On a daily basis we observe where a Waiting Buy and a Waiting Short have been placed.
Trade active
Short has beem triggered and we are going down to the 3500 value, unless exceptionnal conditions would occured.Trade active
The treen has broken down. On weekly periods :
On daily periods:
Trade active
Short is ongoing...THe S&P, after facing the support combined of the Ma100 (blue) and the Ma200 (orange), has rebounded to the Ma18 (red), as suggested before.
The general trend being down, I suggest that the Ma18 combined at the Neck line of the inverse H&S figure should serve as a good resistance, forcing the SP500 to resume its course down.
Note
2023-03-23 : Short always ongoing, as presented on this daily periods Graph- This week, the neck line was again tested without success, maintaining active our short action
- Many support lines are composing together: the Ma18-21(red), the Ma-100 (blue), the Ma-200 and the Boll-Band-Low (grey); also, we are positionned at a fair volume by price (left, grey); all these combined represent a good support
- The combination of their forces
- But if broken down, the Short would gain more action
Wyn-Trader
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