SPX Fair Value Ranges - SPX ES1! SPY - Updated 121722Here is a chart that calculates SPX "Fair Value", based off FED Net Liquidity variables. SPY ES1!
Looking to the end of the year 2022 and the start of 2023, here are some SPX target ranges to keep in mind when taking into account the current FED Net Liquidity:
Upper Bound: $4,271.69
Fair Value: $3,921.69
Lower Bound: $3,771.69
If you want a copy of this chart, here is the link to make a copy: 📊👇🏼
SPX Fair Value (FED Net Liquidity)
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SPX Net Liquidity Band Indicator via @dharmatechnology8:
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Sp500analysis
S&P 500 Analysis and Trade IdeaInteresting. Loads of news coming! CPI, FOMC, and interest rate decisions for CHF, GBP and EUR.
I will wait until I see how the CPI data turns out before jumping in this market for trades.. especially for any buys.
I do, however, see that *support * differently... as I am tentatively bearish in this market.
D1:
1 - A bearish break of of Swing structure. Confirms the market is bearish until the high is taken out.
2 - The return to the impulsing order block. This is the expected pullback correction after a BOS.
This D1 supply zone was in the premium of the trading range, imbalanced and unmitigated, and price reacted
to it perfectly (see last weeks Sunday livestream). It also broke the daily uptrend line.
3* - This is no doubt going to look to some as price finding support for a move up. But it is sell side
liquidity, looking thru the lens of SMC. I expect those lows to be swept, as there are SLs there for the
traders that took longs from those levels.
4 - This is a well placed imbalance/fair value gap that looks to be filled ... potentially... as price moves to
mitigate the demand zone that formed that gap.
5 - This demand zone has potential to hold price once mitigated. So any shorts taken from up higher
into it should TP in this area, imo.
Personally, I will be looking for confirmations to take a long from here. We'll see how price reacts
to this poi firs, though.
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Trade safely.
Long term Bearish signs SP500 - MT 3200Rejected from top of descending channel with double top figure.
Closing under the 1-day 50MA and Supertrend.
Opening Boiler Bands with a down move toching it.
1s Targer 3500 - 50% fibonaci level and bottom of last move.
2nd Target (Main Target) 3200 - 61.8% fibonaci level.
3rd Target (REKT) 2760 - 78.6% fibonaci level.
SPX Daily TA Neutral BearishSPXUSD daily guidance is neutral with a bearish bias. Recommended ratio: 45% SPX, 55% Cash.
* The FOMC announced a 50bps rate hike today and adjusted their Dot Plot to reflect a 5.1% FFR in 2023 . Markets rallied prior to the announcement and then fell shortly after, though this could have been a short-squeeze, Equity and Crypto markets could see more downward pressure as investors return to Bonds; currently FFR futures traders are anticipating a 75bps rate hike on 02/01/23.
DXY, US Treasurys (mixed) and Natural Gas are up. US Equities, US Equity Futures, Cryptos, Commodities, GBPUSD, EURUSD, JPYUSD, CNYUSD, HSI, NI225, N100 and VIX are down.
Key Upcoming Dates: Next GDPNow US Q4 GDP estimate 12/15; US November New Residential Construction at 830am EST 12/20; US Final Q3 GDP Estimate at 830am EST 12/22; US November PCE Index at 830am EST 12/23; UofM Consumer Sentiment Index at 10am EST 12/23. *
Price is currently trending down at $3995 and is at risk of breaking below the uptrend line from 10/13 after being rejected by the 200MA at ~$4035 as resistance. Volume remains Moderate (high) and favored sellers for a second consecutive session; Price briefly touched the VP Point of Control at ~$3970. Parabolic SAR flips bearish at $3920, this margin is bearish at the moment. RSI is currently testing 52.68 as support after crossing above it to start the week. Stochastic remains bullish and is currently testing 43.62 resistance. MACD remains bearish and is currently at risk of denying a trough formation at 33.08 support; if it loses 33.08 support then the next support (minor) is at 10.73. ADX is currently trending up slightly at 16 as Price attempts to defend the uptrend line from 10/13, this is neutral at the moment.
If Price is able to bounce here and reclaim support of the uptrend line from 10/13 at ~$4032 (which coincides with the 200MA), it will have to break above $4058 minor resistance in order to retest the upper trendline of the descending channel from November 2021 at ~$4150 as resistance . However, if Price continues to break down here, it will likely retest $3913 minor support . Mental Stop Loss: (one close above) $4058.
The S&P500 rally stalled at a key resistance clusterThe jury is out over whether a bear-market rally has topped, or last week’s decline is simply a pullback ahead of its next break higher. Yet the turn of momentum at a key resistance cluster suggests bears are regaining control.
The S&P 500 had its most bearish week in 5 as its rally stalled at the 50-week MEA, trend resistance, a 161.8% Fibonacci ratio and the September high. The daily chart shows prices closed below trend resistance, and the market has since failed to move back up to 4,000. A bearish outside day formed on Friday to who momentum is trying to turn lower.
A break below 3915 assumes bearish continuation, with 3818.2 an initial target, and a break below 3800 brings 3700 into focus.
SPX Daily TA Cautiously BearishSPXUSD daily guidance is cautiously bearish. Recommended ratio: 35% SPX, 65% Cash.
* US November PPI came in at 0.3%, a bit higher than the consensus estimate of 0.2% after rising 0.2% in October . This sent Risk-On markets lower as fears of another 75bps rate hike returned to the table. One good thing about November's PPI is that it increased 7.4% from last November, compared to 8.1% in October. Expectations for China's reopening are continuing to materialize as 28 oil tankers remain backlogged in the Black Sea due to Turkey's recent request for insurance checks on Russian oil tankers . Meanwhile the EU faces an energy crisis exacerbated by recent oil price caps and the Russia/Ukraine war that many fear will spill over into a global financial meltdown . However, if US November CPI prints lower and the FOMC follows through on a loose commitment to a 50bps rate hike, selling pressure may be alleviated in the near term.
DXY, US Treasurys, VIX, GBPUSD, JPYUSD, CNYUSD, HSI, NI225, N100, Energy and Metals finished up on the day. US Equities, US Equity Futures, Cryptos, Agriculture and EURUSD finished down.
Key Upcoming Dates: US November CPI 830am EST 12/13; Last FOMC Rate Hike Announcement of 2022 at 2pm EST 12/14; US November New Residential Construction at 830am EST 12/20; US Final Q3 GDP Estimate at 830am EST 12/22; US November PCE Index at 830am EST 12/23; UofM Consumer Sentiment Index at 10am EST 12/23. *
Price finished the day trending down at $3934 after being rejected by the uptrend line from 10/13 as resistance, it's now approaching a retest of $3913 minor support. Volume remains Moderate (moderate) and favored sellers in today's session after favoring buyers in the previous two sessions, a clear indication of PPI induced fears. Parabolic SAR flips bullish at $4090, this margin is mildly bullish at the moment. RSI is currently trending down at 49 after being rejected by 52.68 resistance, the next support is the uptrend line from January 2022 at 46. Stochastic remains bearish after a bullish crossover attempt was rejected at 5, it is currently trending down at 3.5 as it approaches a retest of max bottom. MACD remains bearish and is currently testing 33 support. ADX is currently trending down at 15 as Price continues to see selling pressure, this is mildly bullish at the moment.
If Price is able to bounce here then it will likely retest the uptrend line from 10/13 at ~$4k as resistance . However, if Price continues to break down here, it will likely formally retest $3913 minor support before potentially retesting the 50MA at $3840 as support . Mental Stop Loss: (one close above) $4058.
SPX Daily TA Cautiously BearishSPXUSD daily guidance is cautiously bearish. Recommended ratio: 35% SPX, 65% Cash.
* BOUNCE WATCH . It's volatile week with investors preparing for another FFR hike (12/14) that is widely expected to be 50bps (with a chance at 75bps) as China continues to formally lax their Covid-Zero restrictions in major cities like Beijing where people with a negative PCR test result are now allowed to congregate in certain public places . This has investors torn over a China reopening rally and more flight from Risk-On assets to DXY and US Treasurys with further FFR hikes. Russia continues to bombard Ukrainian energy infrastructure as Russia prepares to ban the sale of Russian oil to buyers participating in the new $60 price cap imposed by the G7 yesterday . In the coming years it would be reasonable to expect more of a push toward renewables like Solar energy in response to the geopolitical factors that are causing oil prices to be unsustainably volatile.
VIX, Metals, Agriculture, NI225, GBPUSD, EURUSD and JPYUSD are up. DXY, US Treasurys, US Equities, US Equity Futures, Cryptos (mixed), Energy, CNYUSD and N100 are down.
Key Upcoming Dates: US November PPI 830am EST 12/09; US November CPI 830am EST 12/13; Last FOMC Rate Hike Announcement of 2022 at 2pm EST 12/14; US November New Residential Construction at 830am EST 12/20; US Final Q3 GDP Estimate at 830am EST 12/22; US November PCE Index at 830am EST 12/23; UofM Consumer Sentiment Index at 10am EST 12/23 .*
Price is currently trending down at $3954 as it approaches a $3913 minor support after being rejected by the 200MA (~$4058 minor resistance). Volume is currently Low (moderate) and on track to favor sellers for a second consecutive session if it closes today's session in the red. The VP Point of Control is at $3913 minor support. Parabolic SAR flips bullish at $4102, this margin is mildly bullish at the moment. RSI is currently trending down at 50 as it tests 52.68 support, the next support is the uptrend line from January 2022 at ~46. Stochastic remains bearish and is currently trending down at 28, the next support is at 17. MACD crossed over bearish in today's session and is currently trending down at 48 as it risks losing 55.35 minor support if it breaks down further. ADX is currently trending down at 18.53 as Price is also trending down, this is neutral at the moment.
If Price is able to bounce here then it will likely retest the 200MA at ~$4040 as resistance before potentially retesting $4058 minor resistance . However, if Price continues to break down here, it will likely retest $3913 minor support . Mental Stop Loss: (one close above) $4040 .
20 Reason buy S&P🔆MULTI-TIME FRAME TOP-DOWN ANALYSIS OVERVIEW☀️
1 ✨Eagle eye: Super BUllish
2 📆Monthly: after a deep correction now, the impulsive move is just started
3 📅Weekly: bear trend/beartrap double bottom/ make lower high
4 🕛Daily: the clear bull trend toward extreme high
😇7 Dimension analysis
🟢 analysis time frame: daily
5: 1 Price Structure: bullish
6: 2 Pattern Candle Chart: flag
7: 3 Volume: high volume
8: 4 Momentum UNCONVENTIONAL Rsi: super bullish
9: 5 Volatility measure Bollinger bands: v
10: 6 Strength ADX: bullish
11: 7 Sentiment ROC: bull
✔️ Entry Time Frame: H4
12: Entry TF Structure: bull
13: entry move: impulsive
14: Support resistance base: cip
15: FIB:
☑️ final comments: buy
16: 💡decision: buy
17: 🚀Entry: 4107
18: ✋Stop losel:4019
19: 🎯Take profit:4198
SPX Daily TA Cautiously BullishSPXUSD daily guidance is cautiously bullish. Recommended ratio: 65% SPX, 35% Cash .
* US EMPLOYMENT SITUATION WATCH . If Unemployment reports higher tomorrow (which with the amount of layoffs in corporate USA these days would be reasonable), this would signal that the FOMC's monetary policy is becoming increasingly effective and they will likely go ahead with their 50bps rate hike on 12/14. This may be considered bullish by markets but it would be prudent to expect for a bit of volatility tomorrow regardless. October's PCE Index was reported (6% vs 6.3% in September) at 12:45pm EST today , when it should've been reported at 830am EST today; why this happened, who knows? Why it (Core PCE) reflected exactly what Fed Chair Jerome Powell forecasted in his speech at the Brookings Institute yesterday, who knows? Powell (and the Fed) forecasted Core PCE dropping from 5.1% (5.2% revised) to 5%, that's exactly what was reported today. The 7th GDPNow US Q4 GDP estimate came in at 2.8% down from 4.3% on 11/23 .
Russia Foreign Minister Lavrov justified recent attacks on Ukrainian infrastructure as a means of defending Russia from "inherent risks" and condemned NATO and the USA for participating in the defense of Ukraine . France and the USA agreed to continue supporting Ukraine . Meanwhile, the Pentagon reported that China conducted more ballistic missile tests than the rest of the world combined in 2021 but that there are doubts regarding whether or not they can achieve their goals of becoming a military superpower by 2027 .
HSI, NI225, N100, GBPUSD, EURUSD, JPYUSD, CNYUSD, Energy, Agriculture and Metals were up today. DXY, US Treasurys, US Equities, US Equity Futures, Cryptos and VIX were down.
Key Upcoming Dates: November Employment Situation at 830am EST 12/02 ; US November PPI 830am EST 12/09; US November CPI 830am EST 12/13; Last FOMC Rate Hike Announcement of 2022 at 2pm EST 12/14; US November New Residential Construction at 830am EST 12/20; US Final Q3 GDP Estimate at 830am EST 12/22; US November PCE Index at 830am EST 12/23; UofM Consumer Sentiment Index at 10am EST 12/23. *
Price attempted to push higher in today's session and finished at $4076 after briefly testing the 200MA which coincided with $4058 minor support. Volume finished today's session Moderate (high) and favored sellers after favoring buyers in yesterday's session. Parabolic SAR flips bearish at $3938, this margin is neutral at the moment. RSI is currently trending down slightly at 62.5 after forming a soft peak at 63.5, the next support is at 52.68 and resistance at 68.42. Stochastic crossed over bullish in today's session after bouncing off of 68 support and is currently trending up at 83. MACD remains bullish after defying a bearish crossover and is currently trending up slightly at 62, it's still technically testing 55 minor resistance. ADX is currently trending up slightly at 21 as Price attempts to push higher, this is mildly bullish at the moment and would become bullish if it maintains this correlation over 25.
If Price is able to establish support at $4058 minor support then the next likely target is a retest of the upper trendline of the descending channel from November 2021 at around $4175 resistance (this would present a very critical resistance). However, if Price breaks down below $4058 minor support as well as the 200MA at $4048 as support , it will likely retest $3913 minor support. Mental SL: (one close below) $4032 .
SHORT OR LONG SP500Hi there,
SP500 is at high downtrend resistance and people are expecting it to go down. Wait for confirmation pattern: candle or H&S or Tops.
SP500 can break out of the downtrend due to other markets like GE40 and DJI have already broken past lower high and formed higher high.
kind regards
any thoughts do share
SPX Daily TA Neutral BullishSPXUSD daily guidance is neutral with a bullish bias. Recommended ratio: 52% SPX, 48% Cash.
* CRITICAL RESISTANCE WATCH . US Equity Futures are starting the week down as Cryptos are attempting to finish the week up (barely). Markets are apparently getting spooked by the unrest in China and how it may affect demand if the CCP is to enforce stricter lockdowns with the uptick in Covid infections. It's unprecedented to see this kind of revolt in China in modern times, with chants in Shanghai for the CCP and Xi Jinping to step down ; all I can say is, bravo to the Chinese citizens for standing up to the scam that is Covid lockdowns. It's a big week for economic data so be prepared for a bit of volatility if the numbers point to more inflation.
JPYUSD is up. Meanwhile DXY, US Treasuries, US Equity Futures, Cryptos, Metals, Energy, Agriculture, HSI, NI225, CNYUSD, GBPUSD and EURUSD are down.
Key Upcoming Dates: US Consumer Confidence Index at 10am EST 11/29; 2nd BEA Estimate of US Q3 GDP at 830am EST 11/30; Fed Chair Jerome Powell speech at Brookings Institute at 130pm EST 11/30; Beige Book at 2pm EST 11/30; October PCE Index at 830am EST 12/01; November Employment Situation at 830am EST 12/02; Last FOMC Rate Hike Announcement of 2022 at 2pm EST 12/14 .*
Price finished last week stalling at $4026, just below $4058 minor resistance which coincides with the 200MA. Volume was Low (high) due to a shortened trading session and has favored buyers for three consecutive sessions; it has also been shrinking for ten consecutive sessions which is indicative of an impending breakout/breakdown. Parabolic SAR flips bearish at $3867, this margin is mildly bearish at the moment. RSI is currently trending sideways at 62; the next resistance is at 68 and the next support at 53. Stochastic remains bullish and is currently trending up at 97 as it approaches a retest of max top. MACD remains bullish and is currently trending up at 62 but is still technically testing 55 minor resistance. ADX is currently trending up slightly at 21 as Price continues to push higher, this is mildly bullish at the moment.
If Price is able to breakout above $4058 minor resistance + the 200MA then it will likely retest the upper trendline of the descending channel from November 2021 at $4175 resistance for the first time since 08/22/22. However, if Price breaks down here, it will likely fall back to ~$3953 as support before potentially retesting $3913 minor support . Mental Stop Loss: (one close below) $3953.
SP500 showing major bull run to 4,410 with 1 MAJOR obstacleThe SP500 has formed a Cup and Handle and another bigger Cup and Handle in the Daily chart.
The price has broken up and out of it and the Moving Averages are all looking good giving the first target of 44,100.
The big BUTT!
Is that there has been a massive downtrend since 23 December 2021, which the price will have to overcome.
The price action is showing bullishness and I hope to science that the price breaks up and out of the downtrend range.
this will dish us up a nice Santa Claus rally. And bias wise I am long 13 stocks at the moment :P
SPX Daily TA Neutral BullishSPXUSD daily guidance is neutral with a bullish bias. Recommended ratio: 60% SPX, 40% Cash.
**Happy Thanksgiving. Thank you for reading, I hope I've helped you navigate the markets in 2022. Through helping you, it has helped me develop a better understanding of what moves markets and I'm grateful.**
*Tomorrow is a short day for trading with US stock markets closing at 1pm and Bond markets closing at 2pm. Equity Markets are still riding the "Fed pivot" narrative that has been flourishing since the FOMC Minutes were published yesterday but it's important to remember that Russia is continuing to weaken Ukraine's power grid and that war and supply chain disruptions can escalate at any given time. Binance CEO CZ announced that Binance.US is making another bid for bankrupt crypto lender Voyager after FTX was unable to complete the acquisition . Binance also announced a 1B BUSD crypto recovery fund (Industry Recovery Initiative) for companies seeking support during the crypto winter . CZ is preaching transparency and even listed the public address for Binance's initial commitment of 1B BUSD, which sounds good in theory but to be honest everyone should be a bit wary of exchange tokens right now; I think it's justifiable to be skeptical of Binance's solvency but as of now it's between them, Coinbase and Kraken when it comes to the top 3 crypto exchanges. There's not too much going on in terms of key economic data until next Wednesday.
US Equity Futures, DXY, Oil, Gold, N100, GBPUSD, EURUSD and JPYUSD are up. US Treasury Bonds, Cryptos, Natural Gas, CNYUSD, NI225 and HSI are down.
Key Upcoming Dates: US Consumer Confidence Index at 10am EST 11/29; 2nd BEA Estimate of US Q3 GDP at 830am EST 11/30; Fed Chair Jerome Powell speech at Brookings Institute at 130pm EST 11/30; Beige Book at 2pm EST 11/30; October PCE Index at 830am EST 12/01; November Employment Situation at 830am EST 12/02; Last FOMC Rate Hike Announcement of 2022 at 2pm EST 12/14. *
Price finished yesterday's session trending up at $4027 as it approaches a test of $4058 minor resistance which coincides with the 200MA. Volume remains Moderate (high) and has favored buyers for the previous two sessions. Parabolic SAR flips bearish at $3844, this margin is mildly bearish at the moment. RSI is currently trending up slightly at 62, the next resistance is at 68.42. Stochastic remains bullish for a second consecutive session and is currently trending up at 82 as it approaches a retest of max top (it's currently in the "bullish autobahn zone"). MACD remains bullish and is currently trending up at 61 as it attempts to break above 55.35 minor resistance; if it can do this it will aim to retest the ATH at 92.49. ADX is currently trending up slightly at 20 as Price pushes higher, this is mildly bullish at the moment and would become strongly bullish if it can continue this correlation above 25.
If Price is able to push higher here then it will likely test $4058 minor resistance which would coincide with the 200MA. However, if Price breaks down here, it will likely retest $3913 minor support . Mental Stop Loss: (one close below) $3953.
Bullish technical conditions S&P 500 Index
Technical conditions: The +5.7% price jump on November 10th could be viewed by technical analysis as a “Flag pole” since the recent seven day price consolidation (daily chart) suggests a “textbook” bull flag continuation pattern is forming. The bullish theme seems to be holding with higher tops and lower bottoms on price since finding support at the October 13th lows near 3,489. Current price 4,005 with resistance (1) spotted near the November 15th highs around 4,050 and resistance (2) near 4,100 (round number). Therefore, from a technical view, long positions could be supported for the short term (5-25 days) provided price can remain above the 3,865 support for upside potential at 4,050 and 4,100 in extension.
S&P 500 Chart Analysis....
Hello Traders, here is the full analysis for this pair,
let me know in the comment section below if you have any questions,
the entry will be taken only if all rules of the strategies will be
satisfied. I suggest you keep this pair on your watch list and see if
the rules of your strategy are satisfied.
Dear Traders,
If you like this idea, do not forget to support with a like and follow.
PLZ! LIKE COMMAND AND SUBSCRIBE.
S&P500 / VIX - Black Swan Incoming? 🔮Taking a look at the SP500 Daily with our US Equity Gaps indicator, next to the VIX Weekly.
Looking back to the start of 2022, we can see a series of "controlled" selling, on our grind from the 4700s, down to 3500-3600.📉
Compare that to the VIX, we can see the stock market has yet to experience a true black swan. See the 2020 mega spike in the VIX.
Whether it's due to geopolitical tensions, financial data, etc., we'll see. But you can almost feel that the market is teetering on a knife's edge. Or at least that's how we feel! 😬
Throw these against the Equity Gaps indicator, and it shows we have plenty to fill to the downside.🤯
Who knows. Maybe we're just being cynical. However, we feel there's a 10-30% downside vs a smaller 1-5% upside.
If that's the case, we're happy to be sitting on our hands for the time being.
-TucciNomics
Chief Overlord, AlgoBuddy
Future predictions (2023)
Fundamental:
The inflation havent reached consumers yet, we have had money (savings) from Covid. We will see more "cold" winter now, as the inflation finally starts to decrease the purchasing power.
The inflation decreases but not quick enough and debt will be taken.
There is a possibility to a bigger recession if the debt is too much for banking systems (Unemployment rate, rate of interest, inflation, credit quality)
Technical:
Top to bottom percentages (S&P 500, approx every decade)
28% 60s/50% 70s/36% 80s/20% 90s/50% 20s/57% 21s (average 40%. 27% now, we have reasons to go lower)
These dates and prices are based on past, not super accurate, but with these there were least inconsistencies
Based on human psychology and cycles we tend to have (bigger picture, decade and century cycle), we havent seen that much yet.
We need bigger crisis or there will be next one coming, the cycle is in progress, there is "nothing" to recover from right now.
Sorry about narrow analysis, I am not the type to write own analysis, also there is no words or pictures to describe the full database I have on my mind!
Hopefully you still enjoy and comment your thoughts,
Best regards: Malmberg Jami
SPX Daily TA Neutral BearishSPXUSD daily guidance is neutral with a bearish bias. Recommended ratio: 48% SPX, 52% Cash.
* MINOR DOWNWARD CORRECTION WATCH . Equities, Equity Futures, Cryptos, Oil, Agriculture, NI225, EURUSD, GBPUSD and JPYUSD are all down. DXY, Long-Term US Treasuries, VIX, Gold, Natural Gas, HSI and CNYUSD are up. US President Biden and China President Jinping met today for 3 hours in Bali ending months of limited communication between the two countries after US House Speaker Pelosi visited Taiwan in August. It ended with Biden promising to defend Japan, South Korea and U.S. interests from North Korea while reaffirming U.S. support for Taiwan's military; and Jinping making it clear that China-Taiwan relations are a red line that must not be crossed by the U.S. The Russia/Ukraine Grain Deal is set to expire on 11/19.
Key Upcoming Dates: Fourth GDPNow Q4 GDP estimate 11/16; US October Retail Sales at 830am EST 11/16; US October Building Permits and Housing Starts at 830am EST 11/17; Russia/Ukraine Grain Deal Expiration on 11/19; 2nd Estimate of US Q3 GDP at 830am (EST) 11/30; October PCE Index at 830am EST 12/01; Last FOMC Rate Hike Announcement of 2022 at 2pm EST 12/14 . *
Price is currently trending down at $3957 after breaking above $3913 minor support last week. Volume remains High (low) and broke a two day streak of buyer dominance with a red close in today's session. Parabolic SAR flips bearish at $3715, this margin is mildly bearish at the moment. RSI is currently trending down at 59 after forming a short-term peak at 62, the next support is at 52.68. Stochastic remains bullish and is currently trending up at 76 with no signs of peak formation, the next resistance is max top. MACD is currently trending up at 40 with signs of a soft peak formation and is still technically testing 33 resistance. ADX is currently trending up slightly at 18 while Price pushes higher, this is mildly bullish at the moment.
If Price is able to bounce here then it will likely retest $4058 minor resistance which should coincide with the 200MA. However, if Price continues to fall here, it will likely retest $3913 minor support . Mental Stop Loss: (one close above) $4000.
S&P500 Analysis 13.11.2022Welcome to the BasicTrading channel.
My name is Philip and in todays analysis I quickly go over the situation which we currently have on the S&P500.
I will analyse the asset both from a weekly and daily timeframe to show you the best possible trading opportunities.
If you enjoyed this analysis, let me know in the comment section which asset I should analyse tomorrow.
I will personally reply to every single comment.
Dont forget to smash that rocket and I will see you tomorrow with a new analysis.