Standard & Poor’s 500 is an American stock market index consisting of 500 large companies having common stock listed on the NYSE or NASDAQ and their market capitalizations. It captures approximately 80% coverage of available market capitalization. Because it includes both growth stocks and value stocks it is one of the most followed equity indices and is considered to be one of the best representations of the U.S. stock market and a trend indicator for the U.S. economy. S&P introduced its first index in 1923 and its present day form on March 4,1957. It was developed and continues to maintained by S&P Dow Jones Indices, a joint venture majority owned by McGraw Hill Financial.
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S&P500 fell sharply earlier this year, still this market is under correction until it breaks the top. But for now price action is stalling around the top of the multi-days channel, i am expecting a drop to at least test the $2,674 area. Look for sell setups if you have your trading strategy.
Happy Trading.
Custom Pivots Indicator - Plots Yearly, Quarterly, Monthly, Weekly, and Daily Levels.
For 2 years I traded this system Exclusively and made a nice living. The reason I created this indicator Vs. the one on TradingView is mentioned in the last line on the first post.
See First Post For Details….
SPX500 reached the supply zone. We went short at the test of this daily supply zone. Expecting drop in the index for the next 2 to 3 weeks. We are expecting prices to go below feb low.
Cheers :)
Hi guys, thank you for the support! I will have this analysis out each weekend as well as daily updates throughout the week, if you guys like what I'm doing hit the "follow" button and you will get a notification each time I post a video or chart!
Have a great day everyone!
Hey Everyone,
SPX500 Is approaching channel width resistance at $2797.6 in accordance with 0.786 Fibonacci extension on daily highest swing
also, It has completed the bullish phase by reaching Daily Long Target2 which eventually means Buyers are Satisfied and bears could
jump in so sellers get ready and use an optimal risk management,
More updates will be posted ...
Hi Guys, I remember the last time this starts to correct and everyone freaked out believing it's the top. (check chart pinned ) It seems like a 5 wave up move is about to complete and that means a higher degree correction is coming. I would follow it on lower time frame to see the turn. If you are in the buy, you might want to watch it closely.
Trade with care ...
Hi Guys, the S&P just completed the C wave with an ending diagonal so look for an up impulse. Any flag on a 60 would be a nice buy setup.
This is a forecasting chart, not an AFTER THE FACT this was my winning trade. So please use a tested strategy to trade it , if you don't have one STOP TRADING live and go back to learning.
Trade with care
Thank you for your ...
Guys, Again, SPX TWO PLAN:
PLAN A: Tri-angle break up, we buy the pull back till 2800
PLAN B: Tri-angle break down, we sell pull back till 2400
I wil update when any of the plan active
SPX continues higher and tries to break the 2800 handle.
In case of a successful breakout, a visit to previous record high can be its next destination.
Extremeley bullish? How about new record high just below 3000 as the harmonics suggest?
A fail to break 2800 can lead to a short term correction back to 2750.
Hi guys, thank you for the support! I will have this analysis out each weekend as well as daily updates throughout the week, if you guys like what I'm doing hit the "follow" button and you will get a notification each time I post a video or chart!
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The current market environment somewhat mimics the 1981 market:
Why?
The stock market rallied 31% from Nov 1979 to Nov 1980 on the optimism that Reagan would revolutionize the economy.
The Reagan Revolution led to the Tax Cuts entitled "Economic Recovery Tax Act of 1981, An act to amend the Internal Revenue Code of 1954 to encourage economic growth through ...
dont risk more than 1 % of your account on the stopploss.
make sure to calculate your lot size correct.
make sure to open at least 3 trades (in case your broker does not allow
you to partially close your trade).
put to breakeven after target 1 was hit.
good luck and have fun!
SPX500 has formed a huge ascending triangle on the daily chart. I am looking for a daily close above the triangle near the level of 2800 before I go long. More agressive entries could be already active but I d like to confirm the breakout first.
Entry (approx) 2796
Stop loss 2763
Target 2840
Risk/reward 1.28
