In my previous analysis I suggested a short term pullback to 3440. Now that the correction is over I am looking to the upside.
See my previous analysis here:
Targets are based on structure and previous all time highs.
We are extremely close to the 3500 extended target that I have been mentioning for weeks in my previous ES/SPX ideas (see below). Bulls seem to be losing strength up here, so I will be looking for short opportunities this week. Initial target is...
I am still extremely bullish and expect a push to 3500 by the end of next week--although at this rate we will get there by Monday. I drew up a couple scenarios. Given the strong bullish momentum, I am favoring the RED scenario. Will post updates if it changes.
In my post last week I shared a bullish setup with three targets--two of which have been reached in a matter of days. With the upcoming election I think stimulus and/or vaccine news in the near future is imminent and either would provide a perfect catalyst for a massive short squeeze with a target of $3500. Reaching this levels in the next month is quite unlikely...
Possible countertrend long opportunity:
-4H Bullish engulfing candle supported by volume (See Volume indicator & Volume Profile )
-Bounce from downtrend channel support
Three target levels: $3300, $3325, $3355
As I mentioned in my previous post on September 22, each of these long targets should be treated as potential reversal/continuation levels to the...
Here we have an opportunity to open longs as a short-term countertrend trade.
Three targets: $3295, $3315, $3340
Keep in mind that the larger trend is still bearish, so each long target should also be treated as a potential short entry.
SPX is forming another Megaphone pattern like it has done multiple times in the past few months:
If we don't see a break to the upside here then another leg down is possible. I will be looking to enter long positions on any dips.
I remain bullish with the following targets
Initial Target: $3160