SP500 a short term outlook 🦐SPX500USD on the 4h chart has tested an important confluence zone.
The market got rejected and is now giving the opportunity of a bearish price action.
How can i approach this scenario?
I will wait for the US market open and if the market will break below i will set a nice short order according to the Plancton's strategy rules.
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Follow the Shrimp 🦐
Keep in mind.
• 🟣 Purple structure -> Monthly structure.
• 🔴 Red structure -> Weekly structure.
• 🔵 Blue structure -> Daily structure.
• 🟡 Yellow structure -> 4h structure.
• ⚫️ Black structure -> >4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
US SPX 500
SPX has more room to go when NQ hit all the targetsSPX can stretch all the way down to 3900-10 if it wants to.
Maj support cluster is at 3910-50SPX
Today is the reversal cycle day, so I take what I have.
Main resistance now is 4025, above it, we can fly.
Mid of the channel hit, not shown on the chart
Monthly resistance close is 4156SPX, so must watch on closing level, its tomorrow...
Im long
S&P500 - watch for short term downsideGood afternoon everyone,
Watch for short term sell setup (bearish flag) that could prove completed if the price breaks the small corrective structure (black trend line).
The target is a rather strong support level @3970, which could yield @2% profit.
Nonetheless, trade with care as this is a short term setup and, despite the negative news flow for risk assets recently, a sharp reaction to the key support level below is likely probable.
Wish you all the best trades,
PTFX
Disclaimer: This post does not provide any kind of financial advice. It is for educational purposes only and solely supported by my understanding of the technical figure based on wave theory.
SPX very muted reaction to Fri sell offI was expecting a better rally off today's lows.
Main support cluster is 3910-50SPX
Main resistance is at 4125 and 4160-65SPX
One more support is in 3992-96 zone
Was looking for a low on the 29th, we got that, tomorrow will be a tell if we get a reversal Tuesday.
Im planning on buying the longs tomorrow if we make new lows and hold into the 2-5th high.
NQ already hit 2 targets and one more to go (doesnt have to go lower, so careful with shorting).
We are in bottoming timing zone, must note that!
S&P 500 index analytics: Terrible decision for the US economy. Analysis of the spx 500 index from 08/29/22 Today we are here to talk about the SPX 500 index
What's on the market now:
Today the index is trading at 4057. Yesterday we saw a sharp drop in the index, which, as I understand it, was planned in advance by Jerome Powell. In his speech, he said that he would fight inflation by shrinking the real economy. That is what he had in mind and therefore his statement caused a sharp sale.
Thus, at present, the market has moved into the red zone. And the market has ceased to be positive. We need to prepare for a deep correction of the index.
What I'm looking forward to today:
I expect the market to continue falling. And we will see a movement to the level of 3980.
Here are my trading recommendations for today 08/29/22
What I recommend:
If you want to go short:
You can open short on the pullback, but limit your risks.
If you want to buy:
Buying in the market is prohibited, but limit your losses.
If you are not in the market:
Buying is prohibited on the market at the moment due to the possibility of a sharp fall to the 4000 level, but limit your losses. You can try to go short the market, but it's better to do it on a pullback, limit your losses.
Like and subscribe, thanks!
Also remember to contact me in 2 or 3 days for further trading advice.
Don't forget to like it, it really motivates me to share my market knowledge. Subscribe to me and you will always be aware of the movement of the SPX 500 index.
See you next time!
Goodbye!
Daily analysis & day trading setups - SPX500 SPX S&P500 20220829Happy New Week, Happy Monday,
4023 is the line in the sand. SPX is stuck between 100DMA @ 4056 & 50DMA @ 4000
Break of either will clear the direction
Macro ECB Lane Speech, US Fed's Brainard Speech
Buy
Break: 4 041, 056, 065, 095
Reversal: 4 000, 3 982, 955, 935
Sell
Break: 4 000, 3 985, 956, 936
Reversal: 4 042, 055, 076, 095, 110, 125
I regularly publish my daily analysis & trading plan for day trading setups. The links are here:
NASDAQ
DAX
SPX
Green Goblin levels are here >>>
Fibonacci Confluence levels are here >>>
ES1! SPX500USD 2022 AUG 29 Week
ES1! SPX500USD 2022 AUG 29 Week
Rejection at 4204 was good for short.
Possible Scenarios are considered:
1) Long if 3940 / 4071 supported
2) Short on low vol retracement / rejection at 4071 / 3940
Weekly: Ave vol down bar = some demand
Daily: High vol down bar close off low = some demand
H4: Climatic down bar followed by very high vol
down bar close at low, breaking through previous support = bearish absorption
Price reaction levels:
Short = Test and Reject | Long = Test and Accept
4303 4204 4071
3950 3743
Remember to like and follow if you find this useful.
Have a profitable trading week.
SPX end of the week updateI had no time to post this last night, but I did the ES.
We did hit my upper target at 4210-20, reversed and never looked back!
Was looking for this move for several days now, but it came so big, I didnt expect to have so much of a move in 1 day.
This gives me more confidence on my lower target zone to hit 3930-50SPX
So for today's close 2 very important numbers are:
- 4157
-4125
Closing below second number will make me even more confident of seeing that lower target next week.
Main supports are:
- 4078 (expect a good bounce from this number, ideally to test 5150 level)
- 4050
Main daily resistance is at 4177 now
have a great weekend
calm before the storm?a larger than expected gap up this morning with no fundamental change to remove the underlying bearish atmosphere.
was this gap up the last opportunity to go short ahead of the fed meeting tomorrow?
or is this simply retail traders eagerly investing extra funds they were saving to pay off their loans, despite market circumstances?
please leave a comment, curious to hear opinions on the matter.
SPX level of importance is 4145 on closingMorning, quick update here
Lets see if we close below 4145 again, then we are going down into the 29th low
I have a main resistance to hit at 4166+-, above it it can stretch to 4175-76, should hold the night highs today and make a lower high during the regular hours imo
Im going to short 4166 and 4175-76 with a stop
Im currently long ES from 4148, tight stop there
Right chart - SPXPosted my other working chart instead of this one.
Again very important to watch 22-23rd highs being taken or making lower highs.
Today's level of importance is 4145SPX, closing above will press higher tomorrow, below not good for the bullz
On the road all day, will not post till late night