FX:SPX500   S&P 500 index of US listed shares
46 0 0
On monthly chart, SPX500             has entered a ranging mode. Price is at the bottom of a obvious range.
On weekly, we are in a downtrend.
On daily, we are in a strong downtrend.

Overall, it looks like the market has found an intermediate bottom around here.

Following the basic pattern of EW analysis, it's likely that price will bounce to above 1948 for a potential short entry.


This would be a Tier 1 trade because we have not cleared any major levels on the monthly chart and the trends are in disagreement.

The next level to look for shorts would be around 2000, followed by above 2100.
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out