S&P 500 IndexLong
SPX: Sept, week 1 inclined turn n burn
Scenario Analysis:
market has potential to retrace back to 5620 area = (-0.52%) retracement,
Market has potential to continue inclinging around 0.64% @5670 (just under last month high) /5680 area where bulls will see new high, then a retracement maybe
Retracement expected to be 35% - 40% support area @5637.43, and 5629.71
May see stagflation (W) price-action potential opportunity
(Week 2 of sep)
may see close to 2.00% Incline or decline after retracement (expect incline)
Objective & Targets:
follow incline by 0.64% prepare for possible retracement thereafter.
Support & Resistance Levels:
Support: 5629.61, 5648.39, 5616.24
Resistance: 5668.64, 5658.15, 5683.48
market has potential to retrace back to 5620 area = (-0.52%) retracement,
Market has potential to continue inclinging around 0.64% @5670 (just under last month high) /5680 area where bulls will see new high, then a retracement maybe
Retracement expected to be 35% - 40% support area @5637.43, and 5629.71
May see stagflation (W) price-action potential opportunity
(Week 2 of sep)
may see close to 2.00% Incline or decline after retracement (expect incline)
Objective & Targets:
follow incline by 0.64% prepare for possible retracement thereafter.
Support & Resistance Levels:
Support: 5629.61, 5648.39, 5616.24
Resistance: 5668.64, 5658.15, 5683.48
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