Forex_Times

πŸ“ S&P500: weekly forecast for August 23 - 27.

Long
New reports from the US Commodity Futures Trading Commission show the overall market is up 2%, confirming the overall strength of the stock market.
πŸ“Œ According to the current CoT reports, the outperformance of buyers increased by 1%, indicating a likely continuation of the upside during the new trading week as well.
A significant increase of 22% in investors' locked positions suggests a flattening of the asset within the price corridor during the first half of the new trading week.
In case of an additional test of the market maker's balance (4420.0), we expect an impulsive rise to the hedge resistance zone (4500.1).
πŸ’‘ In case of breakdown and fixation above the 4500.1 price level, we expect a further rise to the market maker loss (4535.9).
Should it break and consolidate below the balance of the week (4420.0), the next important support for a set of long-term bullish positions will be the important weekly option level at 4286.7 price point.
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Trade active:
πŸ’Ž S&P500: balance sheet is dynamically rising, rally continues. Key support for Monday, August 23 is the balance of the day (4437.5).
The subsequent support level is the weekly marketmaker balance (4420.0).
βš™οΈ The main scenario is a successful test of the weekly balance (4420.0) and a subsequent rise to a medium-term sell order located at the price point of 4520.0.
Trade active:
πŸ“Œ S&P500: corrective decline as a buying opportunity. ⚠️ The nearest support for today is the option balance of the day (4475.4).
In case of breakdown and fixation below the mentioned support, we expect a relatively deep correction within the trading week with reaching the limit buyer level (4462.0).
πŸ“ If a buy pattern is formed near the limit buyer level (4462.0), the limit seller (4502.4) is the minimum upside target.
Trade active:
⚠️ S&P500: going to test the balance of the week? There is a possibility of a continued corrective decline during the second half of the current trading week and an additional medium-term bullish set at the best prices.
The nearest support is the balance of the day (4483.0).
The proximity of the limit buyer (4471.0) further strengthens it.
πŸ’  In case of successful test of this option support, we expect formation of a buy pattern with targets: limit seller (4500.2) and market maker loss (4532.1).
Trade active:
♻️ S&P500: closed above market maker balance. πŸ‘‰ The nearest support level for today is the limit buyer (4482.4).
πŸ“ The main scenario for today is the formation of a buy pattern near the limit buyer (4482.4) and the subsequent rise to the limit seller (4502.6).
The ultimate upside target before the close of the trading week is the market maker's loss level (4533.1).
Trade active:
πŸ“Š S&P500: consolidated above the balance of the week. The nearest resistance for today is the limit buyer (4464.0).
βš™οΈ In case of a successful test of the level of most bullish speculative interest intraday (4464.0) we expect a rise with the target,- limit seller (4498.3).
πŸ”Ή When a buy pattern is formed near the balance of the week level (4440.0) we expect a subsequent rise with the target,- market maker loss level (4533.4).
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