S&P 500 IndexLong
SPX - Bull Run
Updated
The S&P 500 index is currently attempting to reach the 5,500 support level as part of a corrective movement. If the index touches this support level, it is anticipated that the price will rebound, rising again to a new high of 5,525. Should the index successfully surpass this level, it is expected to continue its upward momentum, reaching 5,550.
However, it is crucial to monitor the price action closely. A bearish trend may develop if the price stabilizes below 5,477, as confirmed by the closing of a 4-hour candle below this level. This stabilization could indicate a potential shift in trend, suggesting a possible decline in the index. Therefore, careful observation of these key support and resistance levels is essential for anticipating the future direction of the S&P 500 index.
However, it is crucial to monitor the price action closely. A bearish trend may develop if the price stabilizes below 5,477, as confirmed by the closing of a 4-hour candle below this level. This stabilization could indicate a potential shift in trend, suggesting a possible decline in the index. Therefore, careful observation of these key support and resistance levels is essential for anticipating the future direction of the S&P 500 index.
Trade closed: target reached
The price has reached the target and, as usual, has recorded a new high. Exercise caution regarding any significant retests. Stabilizing above 5525 will lead to 5550.
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With Clear entry point and target line with stopout zone
~900 pips per week —— Accuracy more than 88%
with best learning
Be Stronger With us
THANKS for your support
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