The S&P500 / SPX / US500 is extending the rise inside the long term Channel Up, supported by the 1day MA50. As long as the 1day MA50 supports, we will stay bullish with the 4330 August 16th 2022 posing as the next Resistance. Every rally inside the Channel Up however has been at least +9.50% so we expect a peak on the Channel Up top at 4400 if the August 2022...
S&P500 is testing Resistance (1) on the Channel Up inside the larger Megaphone pattern. Currently it is at the top on two separate patterns. The MA50 (1d) is supporting the Channel Up and the MA200 (1d) the Megaphone. Trading Plan: 1. Sell on the current market price. 2. Buy on Support (1). 3. Sell under Support (2). Targets: 1. 4175 (Support 1). 2. 4300 (top of...
S&P500 has almost reached the medium-term TP (4,220) so we are booking the profit on last Friday's buy position. The 1W timeframe is on steady green levels technically (RSI = 58.257, MACD = 54.060, ADX = 33.739) but the RSI is at the top of its Rising Wedge, indicating a possible loss of strength. We expect a pull-back to S1 and will buy it, targeting R1 (TP =...
The S&P500 is testing the Rising Support of the Channel Up pattern. It is doing so inside a dashed Channel Down, which can also be a Bull Flag. As long as the price closes over the Rising Support, buy and target 4215 (Fibonacci 1.5). If it closes under it, sell and target 4050 (4hour MA200). Previous chart: Follow us, like the idea and leave a comment below!!
The S&P500 is pulling back today after it hit the 0.5 Fibonacci level on Friday. The 1D technicals remain bullish (RSI = 61.663, MACD = 33.310, ADX = 42.403) as the current rise is the bullish leg that started on the Higher Low of the Channel Up and technically peaks near 4,250. That is our short term target and don't see a correction before that. Of course we...
The S&P500 crossed this week over the LH trendline of the August 15th rejection on the 1W MA50. Proportionally this can be compared to the April 18th 2016 breakout. The key for a sustainable uptrend on that occasion was the 1W MA50. It held twice and sustained a long term uptrend. With the 1W technicals turning marginally bullish (RSI = 56.614, MACD = 37.390, ADX...
The S&P500 has completed 3 straight green weeks, the strongest 3 week rally since October 24th. As we zoom out on the 1W time frame where the technicals have just only turned marginally bullish (RSI = 55.603, MACD = 28.700, ADX = 34.959) we can see an attempt to form a Channel Up. The 1W RSI is slightly pulling downwards and since it started rising back in May,...
The S&P500 is extending the rise that we called 2 weeks ago at the bottom (see chart at the end) of the long term Channel Up. Target (1) was easily and quickly hit and as the price is approaching Resistance Zone (1), we get the potential conditions for a short term pull back. Trading Plan: 1. Buy any pull back under Resistance Zone (1). Targets: 1. 4220 (top of...
S&P500 formed the first 4hour Golden Cross since January 16th, breaking above Resistance A. The RSI is on a Rising Support, same with the previous bullish leg of January. Following the Golden Cross, the price pulled back to Fibonacci 0.5 and then resumed the uptrend. Regardless of this potential pullback, we remain bullish on the S&P500 index, with our Target...
Lots of SPX Traders have been watching for price direction for a long period of time now, tentatively awaiting the next 'big move'. That move hasn't really come and although oscillating to the upside slightly over the part 8 months, price is still more or less where it was at the start. This leads a lot of Traders wondering why and encourages them to surmise the...
Lots and lots of Traders completely misunderstand the idea of how price arranges. Patterns are simply not magic. They are built from buyers and sellers and to trade any market formation you need to trade INLINE with this. That means no guessing, rather watching key PA levels. Also, it means scaling your capital and risk as the market progresses. AND Trading...
Hey Guys, In this video I'm doing a Analysis of the SPX and what we can look for in 2023. We will also cover what led us to this point and why.. Planning ahead in Trading is essential to success, but only planning the correct way using market inference of previous price and sentiment works.. Happy XMAS and Trade Safe!
So we looked short, looked long and now we must make another decision about the direction of the market. Remember your job as a trader is to INFER whats going on at all times. Noting whether you have seen price action cause the market to move one way or the other. Once you know this, you can make it a repeatable process. Lets chat about it.
Spx500. The rising wave in SPX brought the index to 4100p. This level may become the last obstacle on the way to new historical highs. The bulls are slowly but surely buying back the market, ignoring the rise in interest rates. We will continue to look SPX and update you on any changes.
In SPX, price consolidation continues and the uncertainty of further movement remains. In past reviews, we considered the fall of the index as a priority scenario, and we will return to it if the price falls below 3900p. The 4113p and 4322p levels are critical for the downtrend, and if they are overcome, SPX will move into an active growth phase. We’ll continue...
We previously looked for a target at this level (exit longs, new shorts). This is why and what to do now. Watch for more.
Well there it goes.. News to bring up the S&P.. BUT now its up to you to decide do I exit or do I not exit... I would much rather do the former. Take gains at early resistance.
As the SPX falls back we can look lightly long.. Market Sentiment has dragged this asset down and we are likely to see a bounce. Take early Exits at early resistance.