Name: s&p 500 retest of 4200 and retracement idea
Uploaded: 2022-08-25T05:33:44.766340
Channel: DavidOConnorSpain
Description: Yesterday's (24th aug. 2022) price action in the s&p 500 looks to me like a short rally before heading to further lows. The main low I have in mind is the 4078.8 level (which corresponds to a fair value gap). However I'd be looking for a failed breakout at the 4200 level or if there is a daily close above 4200 my focus would be on the daily swing high at 4325.

Chart Patterns

chartpattern

Yesterday's (24th aug. 2022) price action in the s&p 500 looks to me like a short rally before heading to further lows. The main low I have in mind is the 4078.8 level (which corresponds to a fair value gap). However I'd be looking for a failed breakout at the 4200 level or if there is a daily close above 4200 my focus would be on the daily swing high at 4325.

Trade closed: target reached:

That was indeed a nice move!

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