S&P 500 Pending Fresh 20 Day Breakout

FX:SPX500   S&P 500 Index
95 0 3
Market Condition: S&P 500             Pending Bullish Breakout
Target 1: 2X Daily ATR at 2147.6
Target 2: Trail Stop with 20 Day Low
Invalidation: Bearish Breakout under 20 Day Low

The S&P 500             closed above 2,101 in yesterday’s trading. With SSI             (Speculative Sentiment Index) reading at an extreme -4.29, trend traders may take both price action and sentiment as signals to plan fresh entries in the direction of the established S&P 500             uptrend. Currently prices are closing in on a new 20 day high, represented by the Donchian Channel on the graph above at a price of 2,106. A breakout above this value would be a bullish signal on the creation of a new higher high. Current ATR reads 20.8. This sets initial targets using 2x daily ATR at 2147.6 Breakout traders looking for a longer term position may opt to trail a stop along the 20 period channel line.

If prices fail to breakout above the 20 period Donchian Channel, it would suggest that the S&P 500             is poised for further consolidation, or a potential trend reversal. Traders watching for a reversal may focus on the current 20 day low at 2085.4. In this bearish scenario, any entries set for a bullish breakout can be deleted upon the invalidation of the trend.
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
AR العربية
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