SP500- I maintain my target of 3kAs I said in my previous SP500 analysis, 3500 should be a great sell zone for bears.
The index reached that zone, has reversed and now is trading just above 3250 support zone.
A small rally should be expected now and bears have a new opportunity for opening trades around 3400
I maintain my target of 3k for this index and only a new all-time high would change my perspective
Sp500sell
Short at 2942 with 3 target short term to 28201 - the eco data are worst more than expected
2- he like filled THE big gap
3 - he traced 61.8 fibo from the #COVID19 krach ,my target are not so far so i think its a good timing and a good trade with good gain to try
4 - he up much on Gilead treatment but in fact even a Vaccin will not erase what the economy is now and all her drama economic data like pmi ,Gdp and co
so central bank are here but reality should back
may i enter a bit early if is the case i will add 1 lot and update..also i will update down my target if he up much for now the stop lost is up to you i made it for me at 3010 yep is a bad ratrio but of course if he go there i will add 1 lot and so get more profiot when he will fall and also surely doiwn my target to 2700 even more...the level is unrealistic..cental bank cant replace economy even if market right now near mean nothing as is a big game ,liek lottery and annalysis near mean nothing coz of central bank and trump tweet
SP500 Sell The SpikesTake note that the daily and monthly time frames show similar ranges as this weekly time frame
For a while on the SP500 0.13% on the weekly time has been close to the upper range of the big range. Inside this range we can now also draw a smaller range thats is narrowing. The Stoch indicator is also making a nice bearish crosser after last weeks close. The ADX isnt that convincing yet so thats why I dont start selling straight away but rather sell the spikes. A spike above 2440-2445 is a beautiful entry for a short.
A target for our sell positions will be difficult, this weekly time frame is more long term and it shows targets that are all under 2400. So if youre able to sit it out for 3-4 weeks you can try and see if it goes that far down.
For more short term targets I have taken a peak at the daily time frame. The daily shows 2422 > 2404 > 2363 as short term targets.
A stoploss at 2458 or 2466 would be nice