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Sp500analysis

SP500 2943 IS THE MAGIC NUMBER...2018 HIGHS, JUNE 2020 SUPPORTSP500 flirted with 2943 multiple times in 2018. We double topped in October 2018, sending us lower, and a year later were able to break past it (October 2019). That led us to new all time highs in February 2020. During the Covid crash, 2943 became support. They built up momentum a bit, trapping bulls, then smashed through 2943 and reach the 2018 lows as support for the March Covid bottom. In April-May 2020, there was a battle at 2943, and we ultimately broke through it end of May. Irrational exuberance took over and we hit the June highs before a big correction to find support at the breakout number of ... 2943!! The next target became the February closing high, 3389. We bust through it on the first try in August, hit the September highs, and corrected down. After a fierce battle at 3389, we found support at the highs of June. We could not smash through that support on the first try. So momentum was built, trapping more bulls by passing the February high 3389 in an "attempt" to hit all time highs near 3600. The October trickle down effect completely turned into a waterfall at the former support level of 3389 (February high). Once February high support was smashed through, we found support yet again at....the June high (like we did in September). Going forward, expect a small bullish move meeting resistance at 3389 to build momentum for a bigger smash down through the June high support to ultimately find support at ... 2943. The June low, which was the former 2018 top, where we broke out in October 2019. This is simply a retest of the breakout from 2019 on a bigger picture. After that, 3600 is not a foreign possibility before more madness in the year 2021.
OANDA:SPX500USDShort
by mjmassens
The end is near! 🔚 🌍 The earth is turning against us, and it's time for us to board the spaceships leaving for Kepler-186f. Just kidding, it's not that bad! However, we still have to expect another -15% in the S&P500 for the upcoming weeks. Our target area for the correction lies between 2900 and 2650. From there, we expect major support by the bulls and a turnaround towards higher quotations. The next hurdle the bears face on their way down is the last low at around 3200 points. This support has to be broken for a final confirmation of the correction. What's your expectation for the upcoming weeks? Stay save and happy trading!
OANDA:SPX500USD
by MarketIntel
SPX relation with Stocks above 200D MA,70 selling & 24 Buying I did not like this a bit. I do not no way but it seems it was quite hard to analyse !. Even though, it is the 200d MA it gave tops that are not significant at all that's maybe one of its draw back. high opportunity cost. Or maybe it is not my day of analyzing :-). i did my best LOL. further examination of this indicator is needed. Also, do not forget that i might missed allot of tops & bottoms :-) wish you all the best.
SP:SPX
by samitrading
S&P 500 BROKE AND RETEST PLAY - UpdateSP 500 Has managed to broke the upside trendline yesterday.From 3212.00 level it has rejected twice and makes a minor double bottom pattern and bounced after the primary touch in lower trendline.And managed broke the upside barrier we are expecting broke and Retest towards the lowerside support level comes around 3277.00 which is coordinating with trendline.From this level we can expect some buying activities and the potential target would be 3450.00 within this range 50% Fibonacci retracement level will act as testing ground for both the bull and bear The bigger dissimilar falling wedge pattern has formed too which is a clear sign of bulls taking some rest to move further towards north..It's a September midterm correction as the end starts the Bull is awake and ready to bounce back towards 3600.00 USA Presidential election will Influence the direction of market we can expect unusual market volatility in coming days Give a like if u love our work..
ULong
by forexorbit