S&P 500, Inverse H&S, Debt Ceiling, Push Towards All Time High!

Hello there TradingView Community!

Let´s jump right into the S&P 500 index weekly timeframe situation today. In the past days a contribution to raise the debt ceiling has been passed which is likely to lead to a increase of the money supply with a strong likelihood to build a raised capital flow into the financial markets. Combined with the falling inflation in the U.S. such a fresh new money supply can lead to healthy rallies within the markets bolstering a base for a rally in the indices such as the S&P 500. Within the last years since the corona pandemic shock in the markets we have seen an increase of private investors in the market moving from 10% to 25% bolstering demand and setting the base for new highs to be formed.

From a technical perspective I detected a major formation forming with the index right now, this formation is a great and determined inverse head and shoulder formation which is just about to complete right now. As when looking at my chart we can watch the index trading in this paramount squeeze zone with and testing the 100-MA right now trading above the point with the highest volume. This determination is likely to lead to a huge short squeeze the better the index holds above the support levels. A final short squeeze is going to complete the whole formation and sets up for a run towards a new all time high with the determined targets as seen in my chart and a strong extension to run into this area.

Thank you everybody for watching. If you liked my idea feel free to support and let us move forward together.

VP

Comment:

The S&P500 ETF finalized the whole Inverse-Head-And-Shoulder-Formation with the adequate breakout.

The volatility increased massively and pushed the S&P500 ETF to consecutive new local higher-highs.

Comment:

ANALYSIS UPDATE: The S&P 500 completed a massive volatility squeeze breakout to convert into real exponential bullish price action moving into new heights.

The S&P 500 is now setting up a massive all-time-high breakout to be completed in the next times.

Comment:

MACRO UPDATE: The U.S. Dollar Currency Index is continuing with more upside strength supporting the established trend dynamics.

The U.S. CPI further eased. This is likely to lead to a more volatile market, in this case into the trend direction.
The potential for further easing in U.S. CPI is present.

Comment:

ANALYSIS UPDATE: The SPX is in a continued bullish momentum acceleration building up above important structure zones.

The SPX is aiming for the final target zone to be reached in the upcoming times.