S&P500: 20 min timeframe - swingtrade

S&P500 - 20 min: Friday the market did decline on a fading stimulus and Brexit deal. The stimulus deal can still happen and may also be delayed by a few days! The market will remain choppy and will not go up or down in a straight line - until they have an agreement in place! Turquoise Channel support at 3644/40 Last low dotted blue line 3627 – staying above those 2 areas is important – from there the market can test 3670 then red line resistance 3680-82 and dotted blue line 3690-92. A break below 3600-3594 would be a sell down to yellow lines at 3555-65. This post or analysis is mostly for swingtraders – normally I use 5 min charts for my Intraday trading. This analysis is based on Friday's closing price - on Monday there may be changes.

I'm neither bullish nor bearish - it does not interest me I just follow the trend, if you are interested in updates during the day you can send me a private message.

Comment:

S&P500 - The daily cycle rises in the coming week - which has typically been strong in December. From mid-December until the end of December the S&P500 has risen 75% of the time over the last 40 years.

Comment:

After opening time the market reached 3680 from 3640 Friday. From here we may consolidate. Support/resistance aeas no changes.

Comment:

Gold (posted in my ideas) touched 1897 today and above 1880 will be very bullish. The USD fell to lows at 89.73 and that is a boost to Bitcoin and the PM sector. The DOW (posted in my ideas) is still in the ED pattern. We can still count it in wave (4) or in wave (5) up.
S&P500 Cash closed today at 3722. We are bullish today until tomorrow where we could see a new or lower high. Critical support 3680 – upside targets 3728/30 – 3748/50.

Trade active:

S&P500: Once again, the market reached new heights during the early morning at 3736 my target 3728/30 reached – next target is at 3750/48. Anything can happen in the market therefore be alarmed the waterfall/selloff can occur out of nowhere. Below 3680 is critical - support and resistance areas no changes.

Trade active:

Buy the rumor sell the (stimulus) news, critical support did fail. Down target below 3680/70 3644/40 - 3600 – 3594 - 3550 /30 we should take whatever price decline we get. Notice the decline could be limited to 3594 - 3600/3633 as all trends remain up. Above 3650 (critical resistance today) we may see 3670/75 -3680/85. We must exceed 3680 to keep bulls in play.

Trade active:

Update 4 hour chart Link: