VincePrince

SPX 500, Completes Wedge-Formation, Likely Continuations Ahead!

TVC:SPX   S&P 500 Index
Hi,

Welcome to this analysis in which we are looking at the fundamentally important S%P 500 Index, we are looking at the 4-hour timeframe perspectives. From the global perspective, the index moved into highly overbought conditions as recovery happened after corona breakdowns last year emerged. Now on the more local perspectives, the index has formed this broadening-wedge-formation with the bearish breakout to the downside recently shown up. The index has now created the setup for further continuations which will move on when the index closes below the dashed trendline and the 100-EMA in red, after this the index is likely to continue with bearish conclusions to test the lower support where it is urgently necessary to stabilize sustainable or a bearish continuation will protract below the support in the bearish-continuation-zone.

In this manner, thank you for watching the analysis and great contentment for everybody supporting, all the best!
"Trading effectively is about assessing possibilities, not certainties."

Information provided is only educational and should not be used to take action in the market.
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Comments

nice setup my friend! 🦐👌🏻
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So much dry powder on the side lines is bullish for all assets. Possibly a small correction coming, or maybe we are seeing the start of a crack up boom?
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Totally agree with this and may I say that I have long appreciated your comments on crytpo and I was thrilled this morning when I saw that you had published on SPX. Thank you!
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I have similar target also :)
But I analyzed with NASDAQ

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Post your comments, questions, and ideas about SPX 500 here.
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DaddySawbucks VincePrince
@VincePrince, spot on imo, im short again
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