The S&P500 has reached its low and is now ready for take-off. We expect the course to rise until the area around 4620 points. Alternatively, the course could turn around before 4549 points with a 35% chance.
Well, considering that the price has lost its dynamic support and had previously reached its highest level in history, it seems that the price intends to make a correction, our first correction target is 4477 and if this support is lost , The next static support is 4418 . Of course, now the price has reacted to its first static support, which is 4500 ... ...
Primarily, we expect the SP500 to stay hot and approach 4485 points, before a little cooldown sets in. However, 4530 points should be the overall aim in the mid-term. At around 4463 points, there is a 35% chance that we might take the long way and dip under 4365 points before rising again but that remains our secondary scenario for now.
A lot of people have been calling for a stock market crash for a long time. However, I'm afraid I have to disagree. From a technical point of view, there is no doubt the S&P is losing momentum as it can be appreciated in the momentum indicators. The price is making new higher highs, but the momentum is doing lower highs. However, the Elliott wave technicals are...
A chart showing the degree increments between major structures,
showing the advancement of the bullrun and its ascent to the top
The ° value is the yellow line, which in turn provides the Fibonacci circle, which I have just chosen to show 4.618
An observation post
Update on SP500
Bullish Momentum till $5000
After we hit that point I see a retest in the market such as a small crash - will update you guys closer to Area.
My BIAS for now is still bullish.
- Share your opinion in the comments below and support the idea.
Thank you for the support.
Another week, another all-time high for the S&P500 – and it does not stop there. We expect the course to further rise to levels above 4426 points. There, a correction should pull us down under the support line at 4353 points. In the mid-term, the course should rise to levels above 4547 points.
Bull, Bull Hooray!
Hi guys, this is OG back with another market update. If you find value in my work, please do like, share, and comment. And also feel free to share your ideas and technical analysis in the comments below.
In my last post on the S&P 500 (in related ideas below), I noted that the S&P500 index was testing trendline support after failing to make a new All Time High...
The situation around the S&P500 is pretty interesting right now. We are just a small step away from the mark at 4258 points. Once the index solidly clears this level, we have approval for continued growth towards regions around 4400 points.
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The last sell trade landed and now a long trade is progressing.
Trade details are shown on the chart.
We're only looking for TP3.
Trade history can be seen below this trade idea too for full transparency.
I try and share as many ideas as I can as and when I have time. My trades are automated so I am not sat in front...
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SPX500 is in the bullish area on the daily chart on the left. The bullish crosses of EMAs and stochastic potentially align short-term traders with the daily. A movement of stochastic to 80 level and maintenance of that level increase chance of a successful trade. Trend following indicators may be useful in this case as a potential exit tool. Stop under hourly low...
THE SP500 SHOULD TOP OUT AT 4,395 THE WEEK OF JUNE 18TH.
It is an OPEX week, and this level of 4,395 represents the 4.618 Fibonacci Extension taken off the Dot-Com crash lows, 2007 market top, and 2009 crash lows. So far, the Weekly SPX chart has held the green trend line ever since the Covid March lows. Every dip underneath that line has been a bear trap. These...