Global-Investa

S&P500 - the turning point warns!

SPCFD:SPX   S&P 500 Index
The S&P 500 is bursting with strength and so it is not surprising that the index made another new high just these days. The bulls remain persistent. Nevertheless, in the context of today's turning point, the weakness of the last few days could well extend and initiate a countermovement. Together with the upward trend line that is at stake, a downward trend is therefore possible until the start of March. With prices below 3,884 points, the index should fall back at least to the support at 3,840 points. If the dominance of the short side persists, further covers/closes could lead to a rapid slide towards the support at 3,750 points. The index is well protected there. Thus, within the framework of the turning zone at the turn of the month, it should be able to start again from there and head north.

Below 3,700 points, however, the situation becomes critical. Just as the bulls are likely to unleash further upward momentum with a rise above the level of 4,000 points.

An excerpt of past turning dates:

- S&P 500 high 19 February, tolerance ? days
- S&P 500 low 02 February, tolerance 2 days
- S&P 500 high 26 January tolerance 0 days
- S&P 500 low 14 December, tolerance 1 day
- S&P 500 low 20 November, tolerance 1 day
- S&P 500 Low 30 October, tolerance 0 days

(Our turning dates have an average tolerance of 3 days. 80% of the time it is 2 days).

Notice:
Three specific analytical methods are used within our trading strategy. Only partial aspects have been published in this article and it does not constitute a complete trading system, nor does it constitute investment advice or a recommendation to buy.

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out