TradingView
AlanSantana
Jul 15, 2022 9:48 PM

S&P 500 Index Goes Green Monday (10% Jump & Good News) Long

SP:SPX1D
S&P 500SP

Description

⋅
Out of nowhere, we will witness good news on Monday and the Standard & Poor's 500 Index (SPX) goes green.

Some people are saying that the correction between BTC and SPX is over but this isn't true.

Just as the SPX recovers so does Bitcoin.

The last three days green for the SPX.
The last three days green for BTC.

New low set between 16-18 June for the SPX.
New low set between 16-18 June for BTC.

Initial low set around mid-May for the SPX.
Initial low set around mid-May for BTC.

These are just some of the similaties.


SPX Bullish Signals
  • The SPX left multiple gaps on the way down, these are going to be filled on the next bullish wave.

  • The SPX today trades above EMA10 and EMA21.

  • The RSI is about to hit 50, which we consider bullish/strong.

  • High buy volume 17-June after a new low.

  • Yesterday we got a reversal candle ending in a higher low compared to 17-June.


We see a 10% rise in the weeks to come.

For your convience, the targets are always marked yellow (or green dashed line or both) across all markets while support is marked light blue.

The support level range is the light blue space but the specific low/bottom price is always marked with a red dashed-line.

I hope you find this information useful.

Namaste.
Beyond Technical AnalysisFundamental AnalysisTrend AnalysisSPX (S&P 500 Index)BTCindexStocks
Comments
DBAKIEV
⋅
This might be the last bull run to approx. 3950-4000 before we prob. retest the recent lows. It might be a short lived positive sentiment rally related to energy inflation peak. However, demand driven inflation will be there for months (pos. retail sales and very well functioning job market all pospone recession until Q3-22 or Q1-23). So guys who think that FED will stay hawkish to fight inflation will soon reprice that spike and push the index lower (catalyst could be "good" earnings but gloomy outlook from mega caps). Cheers, good trading
AlanSantana
⋅
@DBAKIEV, Completely agree "This might be the last bull run to approx. 3950-4000 before we prob. retest the recent lows.".

One last hurray before more pain/red.

But we are fully ready and prepared.
TraderV123
⋅
@DBAKIEV, Agreed!
TheUpside1
⋅
I’m using btc to guide me on the Spx Monday . If we are breaking 20500 . I will open a short on the Spx . If we close above 21k by Monday I will open a Spx long . Easy
AlanSantana
⋅
@TheUpside1, Sounds good.

The SPX tends to follow up on Monday what happens on Friday.

Not always but a general guideline is that if end of week closes green, the next week starts green and vice versa.
Jabby
⋅
I agree. Based off other charts, I believe stocks may have mostly bottomed in the past 2-3 weeks. I am adding to positions at these levels. Thanks.
AlanSantana
⋅
@Jabby, My pleasure. Thanks for the bottom.
TheCryptoChartWhisperer
⋅
This is exactly what I am looking for.
AlanSantana
⋅
@TheCryptoChartWhisperer, Nice. Thanks for sharing.
zdmzain
⋅
noob. i have been watching your idea. only work on bull market. complete noob on bear market
More