S&P500 - The bottom we have been waiting for!

Apr 28

The S&P500 - SPX - officially created the bottom:

(click chart above to see the in depth analysis👆🏻)

This month we officially saw one of the craziest stock market fakeouts of the past decade. With a drop and reversal rally of about +15%, the S&P500 is about to even close with a green monthly candle, which then indicates that the stock market bottom was created.

Levels to watch: $120, $250

Keep your long term vision!
Philip (BasicTrading)

May 8

Trade active

The S&P500 - SPX - now confirmed the bottom:

(click chart above to see the in depth analysis👆🏻)

Just within a couple of days, the S&P500 managed to rally about +20%, perfectly retesting and rejecting the previous all time high. May has been a quite calm month so far, but overall bulls are still clearly in control, and about to retest the all time highs again.

Levels to watch: $6.000

Keep your long term vision!
Philip (BasicTrading)

yesterday

Trade closed: target reached

The S&P500 - SPX - is heading for new highs:

(click chart above to see the in depth analysis👆🏻)

As we are speaking, the S&P500 is perfectly respecting price action and simply creating the overall expected follow through after a significant rejection in April. The next psychological level will basically decided the year of 2025, so let's start praying right now.

Levels to watch: $6.000

Keep your long term vision!
Philip (BasicTrading)