Pair : SPX500 Index
Description :
Bullish Channel as an Corrective Pattern in Short Time Frame and Long Time Frame and Rejection from Upper Trend Line
Break of Structure
RSI - Divergence
Impulse Correction Impulse
SPX500 went up and
Retested the horizontal
Resistance of 5147.42
From where we are already
Seeing a move down
So I think that we will
See a further move down !
After good economic projections in the FOMC. Looking for continued upside on the SPY. A dip to 518.38 area would be a good place to buy, with initial TP at 525 and final TP at 530.
The S&P 500 is showing signs that the uptrend is becoming fragile. As you can see there is a very clear rising wedge pattern developing on the daily chart this is a classic bearish reversal pattern and it indicates a shift in supply and demand from bullish to bearish as the buyers can no longer keep prices propped up. This pattern is not confirmed yet as it has...
The index has hit its dynamic resistance once again. As you can see, this resistance has been able to stop the growth of the index several times and cause the correction of the index.
Now you have to wait for the trigger line to break
SPX500 keeps falling down
And SPX500 is now locally
Oversold so I think that
After the price hits
The horizontal support
Below at 4940 we will
See a local bullish correction!
Pair : SPX500 Index
Description :
Bullish Channel as an Corrective Pattern in Short Time Frame and Long Time Frame and Rejection from Upper Trend Line
Break of Structure
RSI - Divergence
Impulse Correction Impulse
Depend on FB Levels the current area is critical area that mean the price may change price movements to other direction , Pls follow me to get my price analysis notifications
SPX500 was trading in a
Bullish flag pattern and now
We are seeing a bullish breakout
So we are bullish biased
Now and we will be expecting
A further move up !
SPX FEB WEEK 5 OUTLOOK -
Daily - no doubt we have been super bullish here on SPX for last few week going back to December. but it's around the seasonality cycle and on daily TF that it looks in need of a pullback.
Origin - 2 scenarios become apparent when we drop down to origin.
1. a small pull to the zone** 5065.01 - 5027.94** and hold above it. if that happens...
BUY/LONG ZONE (GREEN): $4531.84 - $4726.36
DO NOT TRADE/DNT ZONE (WHITE): $4380.94 - $4531.84
SELL/SHORT ZONE (RED): $4117.36 - $4380.94
Currently there is bullish momentum, as seen coming off the gap up from Monday close-Tuesday open, however; after this momentum upwards we have only seen price go sideways up to today. Price is resting inside a zone towards the...
SPX500 broke the support
Cluster of the rising and
Horizontal levels at 5018
And the breakout is confirmed
So I think that we will see
A further move down!
Similar to my analysis on PEPPERSTONE:NAS100 , I also anticipate a decline in the case of $CBOE:SPX.
The index attempted twice to remain above 5000 but failed, and it appears to be forming a double top in that area.
From a technical standpoint, the trend remains strongly bullish.
However, a drop below 4930-4950 would interrupt this aggressive uptrend and...
Weekly trend-line stretching back to November 2022, is being tested around the level of 5,000 which is also a "psychological barrier" for price action to proceed going higher.
A re-test of the breakout above the 4,800 level is expected in the near-term.
Chart is self-explanatory:
Confluences:
Deep Crab PRX
Top of the Parallel Channel
1.618 of the move from 4612 to 4100
Bear Div on RSI if We get a move down in coming weeks
