Breaking Down the SPX500 Daily Using Price Action

FX:SPX500   S&P 500 Index
Right now I'm Still Neutral on SPX500             . This could all change IF we break & close below the Major Support level on the Daily time frame. IF, we break & close below that level, THEN, I would expect Price to run back down to Previous Lows (Green Dashed lines on Chart) @ around 1880's level.

So far in this Uptrend we have started making a series of Higher Lows which should be a Red Flag for this "Uptrend" on the Daily Time Frame. All the Lower Time Frames have been in a Bear Trend all month and the Daily Time Frame is what I'm waiting for before we can safely say that this Market is truly Bearish . This will come with a break & close below the Major Support Level .

This is just an observation on what I'm seeing on the Daily Chart . This isn't a trading idea per-say but I will continue to Sell Rallies on the 60min Chart.

Hope this helps!
I am expecting the same too... :)
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out