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Us500trading

S&P500: Holding the 4H MA50. Still bullish.The S&P500 index is now on a healthy green 1D technical outlook (RSI = 65.835, MACD = 82.010, ADX = 81.214) following a much needed technical pullback yesterday that eased the previously overbought technical indicators. On the 4H timeframe, the index is still inside a two month Channel Up, which found support yesterday on the 4H MA50. As long as it holds, we will stay buyers until the end of the year, aiming at its top (TP = 4,850). If the price crossed under the 4H MA50, we will short aiming at the 4H MA100. If that is crossed as well, we will target the 4H MA200, which is close to the bottom of the Channel Up. It has to be said that the RSI has been inside a Channel Down, meaning that at some point, this bearish divergence will start a correction. See how our prior idea has worked: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CAPITALCOM:US500Long
by InvestingScope
S&P500: Small pullback will provide the new buy entry.S&P500 reached the top of the four month Channel Up, remaining on heavily overbought technical indicators on the 1D timeframe (RSI = 75.225, MACD = 61.680, ADX = 45.310). As the 1D RSI is close to hitting the HH trendline that goes as back as November 2022, we expect a pullback, at least on the short term inside the Channel Up, first to drop the overbought indicators back to a balanced stated and secondly to form a HL on the Channel Up. We are opening a sell on closing, aiming at a -2.60% (TP = 4,460) pull back which was the decline of the last correction. That will be a low risk buy opportunity (as long as the 1D MA50 holds) to target R1 (TP = 4,640). If the candle closes under the 1D MA50 and S1, we will short and target the 1D MA200 on S3 (TP = 4,165), a potential correction that will neutralize finally the overbought 1D RSI. Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CAPITALCOM:US500Short
by InvestingScope
4
S&P500 Near the top on two patterns. Pull back possible.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 Channel Up). 3. 4000 (bottom of Megaphone and near MA200 1d). Tips: 1. The RSI (4h) Highs (70.00) and Lows (30.00) match perfectly the Tops and Bottoms of the Channel Up. Use this to your advantage. RSI values of 70.00 are to be sold while values of 30.00 to be bought, as long as the Channel Up holds. Please like, follow and comment!! Notes: Past trading plan:
CAPITALCOM:US500
by TradingBrokersView
9
S&P500: One last bullish leg before a new correctionThe 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 need to take into account the R1 Zone, which has formed tops 4 times already since June 2022 but this time the 1D RSI looks more like the July 29th-August 8th 2022, which was a stepping stone before a blow off top at 4,330. Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CAPITALCOM:US500Long
by InvestingScope
3