S&P500 future – After previous analysis 3850 failed and March 4th we reached 3722.92 Low.
The decline in indices continued last week until Friday - was the reason the $1.9 Trillion Relief Bill? or the beginning of a larger rebound? The weakness may continue.
Bear scenario:
It is important for bulls to hold the price zone of 3720. Should this price zone be undercut, a furhter correction could push the bulls back into our price zone of 3660 – 3590 ect.
Bull scenario:
The next upside target is at - 3850 – 3880 - 3910 and then 4005. Upside and downside targets see chart.
Always be prepared and trade one level at a time, as no one knows when we have a high or a low in place. The last one that occurred was the market panic in February/March of 2020.
A bear market is when a market typically fall 20% or more from recent highs.
If we break resistance it become support If we break support it become resistance. Buy and Sell confirmation: Bull market don’t buy if the RSI is overbought always wait for a pullback. Bear market only sell when the RSI is overbought or wait for a bounce.
Keep it simple and trade with the trend – you will never lose and live 10 years longer!
Notice: It doesn´t matter if you trade future contracts or #SPX the level difference is plus minus some points - the analysis is general for them all.
The decline in indices continued last week until Friday - was the reason the $1.9 Trillion Relief Bill? or the beginning of a larger rebound? The weakness may continue.
Bear scenario:
It is important for bulls to hold the price zone of 3720. Should this price zone be undercut, a furhter correction could push the bulls back into our price zone of 3660 – 3590 ect.
Bull scenario:
The next upside target is at - 3850 – 3880 - 3910 and then 4005. Upside and downside targets see chart.
Always be prepared and trade one level at a time, as no one knows when we have a high or a low in place. The last one that occurred was the market panic in February/March of 2020.
A bear market is when a market typically fall 20% or more from recent highs.
If we break resistance it become support If we break support it become resistance. Buy and Sell confirmation: Bull market don’t buy if the RSI is overbought always wait for a pullback. Bear market only sell when the RSI is overbought or wait for a bounce.
Keep it simple and trade with the trend – you will never lose and live 10 years longer!
Notice: It doesn´t matter if you trade future contracts or #SPX the level difference is plus minus some points - the analysis is general for them all.
Germany30 and S&P500 Intraday analysis August 23rd. and weekly update 34. Posted at twitter: twitter.com/SP500_Dow