S&P500: Preparing for the next BEARISH move targeting the 3500!
Updated
Hello, everybody and welcome to Cybernetics Trading Lab, today we are going to analyse the S&P500, translating the market information by using a full technical analysis on different time frames, giving you a personal opinion about the next most likely market movement and helping you to spot and manage market opportunities.[/I]
Top Down Technical Analysis:
Since the beginning of the 2022, the S&P500 has been moving inside a huge corrective structure, forming inside several impulses and corrections.
In May 2022, the market put in place the most recent swing high, where it got a strong rejection just during the previous august!
A strong bearish phase started since then , after the market bounced on the resistance and hit the third touch on the HTF corrective structure.
Currently, the market looks is corrective its previous move, a formation of a bearish flag could be a potential clue for a further bearish movement, targeting the level 3500!
When, where and why would we step into the market?
Considering the overall bearish bias, we would be looking only for short position.
The market is correcting following our conditions, and a breakout of the actual LTF structure would be our entry for a short till 3500.
In the scenario of deeper correction, we would consider to wait for a better entry, and the setup will be temporarily invalidated.
If you enjoy this trade idea, please support our work with a thumb up and don’t forget to follow our social medias!
Sincerely,
Cybernetics Trading Lab
DISCLAIMER
Please note the views are not investment advice and should be used only for educational purpose.[/I]
Top Down Technical Analysis:
Since the beginning of the 2022, the S&P500 has been moving inside a huge corrective structure, forming inside several impulses and corrections.
In May 2022, the market put in place the most recent swing high, where it got a strong rejection just during the previous august!
A strong bearish phase started since then , after the market bounced on the resistance and hit the third touch on the HTF corrective structure.
Currently, the market looks is corrective its previous move, a formation of a bearish flag could be a potential clue for a further bearish movement, targeting the level 3500!
When, where and why would we step into the market?
Considering the overall bearish bias, we would be looking only for short position.
The market is correcting following our conditions, and a breakout of the actual LTF structure would be our entry for a short till 3500.
In the scenario of deeper correction, we would consider to wait for a better entry, and the setup will be temporarily invalidated.
If you enjoy this trade idea, please support our work with a thumb up and don’t forget to follow our social medias!
Sincerely,
Cybernetics Trading Lab
DISCLAIMER
Please note the views are not investment advice and should be used only for educational purpose.[/I]
Note
We forecasted a potential bearish movement on SP500, eventually the market after the breakout of the LTF structure, bounced on the swing, rising up, evolving the structure.
in LTF, it still looks bullish, so to be moderate on this market, we will be waiting for the breakout to the downside!
Stay tuned for update
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Disclaimer
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