Spx500analysis
SPX500USD - Bullish Momentum UnderwaySPX500USD has been undergoing some bullish momentum over the last few days. This may lead to a potential push to the $5350 region over the next few days. Further movement will take time to tell; but overall it’s currently looking good.
All 4 of our Core YinYang Oscillators and exhibiting Bullish Momentum; however since there is such low Volume, it’s hard to say how strong this momentum will be. Nonetheless prepare yourself for a potential movement upwards in the short term.
THREE BLACK CROWS appear on the S&P500In the weekly frame on the S&P500 index, there is a pattern called three black crows and it is a bearish pattern that will lead to a downward move in the upcoming weeks.
in July and August 2023, the same pattern happened and the market rebounded for two weeks then the downward move began to make the index retrace about 9%
As we can see on the chart the index stopped at the Fibonacci support level in August and last week also, so we expect the rebound will be to the 5208 points level and a new correction will begin.
US500 Guys, using the maximum filter for 3 days - signals were sent that everyone had arrived)
+ news seen today that everyone is long on shares)
will probably be damped soon
There has never been a total overheating of such signals.
SP:SPX TVC:SPX CBOE:SPX SPREADEX:SPX OANDA:SPX500USD AMEX:SPXL
There is also a strong downward signal this week
S&P 500 INDEX $SPX - Nov. 17th, 2023BUY/LONG ZONE (GREEN): $4531.84 - $4726.36
DO NOT TRADE/DNT ZONE (WHITE): $4380.94 - $4531.84
SELL/SHORT ZONE (RED): $4117.36 - $4380.94
Currently there is bullish momentum, as seen coming off the gap up from Monday close-Tuesday open, however; after this momentum upwards we have only seen price go sideways up to today. Price is resting inside a zone towards the top side where bulls can look for a breakout to start entering in longs. For bearish entries there would need to be some structural breakdowns for the bears to enter as the price approaches the $4380.94 level. Both the bullish and bearish zones can be widened to include the entry levels of the respective zones for early entries.
This is what I would personally look at before entering trades, everything is subject to change on a daily basis and as I analyze different timeframes and ideas.
ENTERTAINMENT PURPOSES ONLY, NOT FINANCIAL ADVICE!
5050 is the next point stop?I prefer to ignore reality and focus only on what the graph will show me, because every new week we have good news regarding the American economy, but the good news will have to come to an end at some point, as there is a saying that goes like this; "There is no such thing as a free lunch. If you didn't pay for it, someone else will have to."
In the long term we are still in a strong upward pivot, and amazingly, it could reach the gold region at 5050. What a great thing, right?
Note: The red lines are resistances. If defeated, they project highs up to the yellow lines (targets).
On the medium-term chart, the trend is strong, but the SETUP used is indicating that the bulls are losing strength, therefore, we may not reach the golden target at 5113, remaining only at the long-term golden target reported above (5050).
Note: The red lines are resistances. If defeated, they project highs up to the yellow lines (targets).
On the hourly chart, we have the following: the loss of the 4909 range projects the falls reported in the chart below. The salvation for this correction would be for bulls to act quickly and force prices above the safety level at 4922.
Note: The red lines are support points. Loss of it leads prices to seek the yellow lines (targets)
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In conclusion we have:
a) Prices are at an all-time high, a beautiful achievement, but the bulls need to continue their rises and look for the golden target on the long-term chart in the region of 5050. If this does not happen, we could have strong corrections up to the level of 4459.
b) The 4960 region is a resistance that needs to be overcome this week for the long-term uptrend to materialize. So, pay attention to this track as this week begins.
c) Prices working below the 4909 range the best thing to do is stay out, or, if you are brave, working on the short end is the best alternative, but remember. This is a region with strong fights between bulls and bears, so traps will be constant.
SPX here!
Do your analysis and good business.
Be aware, if you buy, use stop loss.
See other graphical analyzes below.