InvestingScope
Long

S&P500: Buy opportunity on the 1D Higher Low.

CME_MINI:ES1!   S&P 500 E-mini Futures
The index is trading within a 1D Channel Up that is currently on its Higher Low zone ( RSI = 53.748, MACD = 22.840, Highs/Lows = 0.0000). The fundamental environment may be largely negative buy purely from a technical standpoint, the 2,780 - 2,790 is an optimal long opportunity. TP = 2,849.





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A right skewed head-and-shoulders pattern (with downward sloping neckline) has often been a harbinger of a major crash in the past.
However, modern stocks disguise themselves quite well, so that such a pattern is not always easy to see while it is forming.
Only in hindsight will you realize what that actually was. I'm curious how it will end this time.
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@ReallyMe, That's true. 2849 was hit anyway, the real test now is 2866.
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Well, I don't know about you guys but I am counting to three on S&P. In my opinion, there will not be a "four".
+3 Reply
@ReallyMe, Again, thanks for sharing.
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ReallyMe InvestingScope
@InvestingScope, You're welcome.
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@ReallyMe, Even though number (5) should be placed on the previous High, hence the correction pattern is already completed.
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ReallyMe InvestingScope
@InvestingScope, nope, my count and numbering follow this scheme https://ibb.co/DfXKVKX
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ReallyMe InvestingScope
@InvestingScope, so, if you look at it "from the right perspective," as I would call it, the actual correction pattern will begin shortly ;-)
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There is another trend line that will provide resistance at/near 2815/2820 (Feb 25, Mar 3, Mar 14, current). MACD crossover in trending bearish.
+1 Reply
@cblewis_78, Indeed but this hasn't been confirmed yet on the longer time frames. Until that happens we are bullish.
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