S&P500 preparing an end of the year rally to 3780

SPX continues to trade within the Channel Up that I previously spotted and right now the keys are a certain Fibonacci sequence as well as the MACD formation on the 4H time-frame.

As you see the MACD is printing a similar formation with November 23 - 26. That was when S&P500 made its aggressive Bullish Leg from 3545 to 3655. It made its top on the -0.1 Fibonacci extension then pulled back to the 0.382 Fib retracement and took some time to price a Higher High on the -0.618 Fib extension.

If the same pattern is repeated, then the price could pull back seeking support within the 4H MA50 and 0.382 Fib and then rise to the -0.618 extension which is around 3790. That would set up S&P on a nice end-of-the-year rally.

** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **


!! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !!

πŸŽ‰ πŸ‘ Shout-out to TradingShot's πŸ’° top TradingView Coin donor πŸ’° this week ==> TradingView

Join Tradingshot's Account Management program!!
-20% monthly profit on +10000 USD accounts. Max 30% drawdown.
-Message me for more info!

I trade on the best platform PRIME XBT!



Great chart work πŸ‘
+2 Reply
TradingShot growerik
@growerik, Thank you!
Not bad, not bad at all. I made net 800 points in last 100 trading days, which is not particularly good or bad result, but I am mentioning it because i have open position just as you described in your chart. What worries me is much lower price volatility in last couple of weeks. How do you see this playing out
nice chart bro
hotZebra43793 mastershark
@mastershark, hai good morning
Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out