Bearish drop off overlap resistance?Dow Jones (US30) is reacting off the pivot which has been identified as an overlap resistance and could drop to the 1st support.
Pivot: 40,653.80
1st Support: 39,356.30
1st Resistance: 41,490.90
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Indices
Bullish rise off pullback support?S&P500 has reacted off the support level which is a pullback support and could potentially rise from this level to our take profit.
Entry: 5,478.47
Why we like it:
There is a pullback support level.
Stop loss: 5,349.10
Why we like it:
There is a pullback support level;
Take profit: 5,776.02
Why we like it:
There is a pullback resistance level that is slightly above the 161.8% Fibonacci extension.
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SPX500 H4 | Potential bullish bounceSPX500 could fall towards an overlap support and potentially bounce off this level to climb higher.
Buy entry is at 5,546.94 which is an overlap support.
Stop loss is at 5,440.00 which is a level that lies underneath an overlap support.
Take profit is at 5,789.71 which is a swing-high resistance.
High Risk Investment Warning
Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Stratos Markets Limited (tradu.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Europe Ltd (tradu.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Global LLC (tradu.com):
Losses can exceed deposits.
Please be advised that the information presented on TradingView is provided to Tradu (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd.
The speaker(s) is neither an employee, agent nor representative of Tradu and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of Tradu or any form of personal or investment advice. Tradu neither endorses nor guarantees offerings of third-party speakers, nor is Tradu responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Bullish bounce off pullback support?USTEC has reacted off the pivot which has been identified as a pullback support and could rise to the 1st resistance which is an overlap resistance.
Pivot: 19,189.77
1st Support: 18,580.75
1st Resistance: 20,258.77
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
S&P500: Buying accelerating as the bottom is confirmed.S&P500 is neutral on its 1D technical outlook (RSI = 52.628, MACD = -41.490, ADX = 32.588) as it has been volatile during the day but on the long-term, it has resumed the bullish trend, making a strong recovery last week. The bottom is now confirmed (above the 1W MA200) and as the oversold 1W RSI was bought, the index eyes a +28.50% rise on the medium term, same as in early 2024. This falls practically on the previous ATH level (TP = 6,150).
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Bullish bounce?NAS100 is falling towards the support level which is an overlap support that is slightly above the 38.2% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 18,908.67
Why we like it:
There is an overlap support level that is slightly above the 38.2% Fibonacci retracement.
Stop loss: 18,461.05
Why we like it:
There is an overlap support that lines up with the 50% Fibonacci retracement.
Take profit: 20,200.53
Why we like it:
There is an overlap resistance level that is slightly above the 161.8% Fibonacci extension.
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Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Bearish drop?S&P500 is reacting off the resistance level which is an overlap resistance and could drop from this level to our take profit.
Entry: 5,510.94
Why we like it:
There is an overlap resistance level.
Stop loss: 5,665.52
Why we like it:
There is a pullback resistance.
Take profit: 5,324.97
Why we like it:
There is an overlap support level that lines up with the 50% Fibonacci retracement.
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Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Stromm | S&P 500 & NASDAQ a RESISTANCE is NearThe S&P 500 and the Nasdaq are basically moving in lockstep right now — their structures look almost identical.
Starting with the S&P 500:
We’re currently trading into a 4-hour Fair Value Gap between $5,546 and $5,634, Sitting just under a 4-hour Order Block that could trigger a short-term reaction.
At the moment, though, it doesn’t really look like we’re going to flush all the way back down toward the $5,000 level (2-hour Order Block sitting much lower).
More likely?
This 4h Order Block just gives us a brief pullback, a minor reaction — and then price pushes higher again.
This would line up perfectly with my original scenario of Wave A completing around $4,805.
Personally, I’m already positioned around $4,800, so obviously, I'd love to see that level hold and price continue moving higher — ideally heading toward $6,000.
That would be the perfect extension — but nothing is guaranteed yet.
Still, structure right now leans bullish unless we see a sudden breakdown.
Now, for the Nasdaq CME_MINI:NQ1! :
Almost the same setup —
We have a 2-hour Order Block just above the current price, acting as short-term resistance,
And another 2-hour Order Block way lower, which now seems less likely to be tested unless something drastic happens.
So for the Nasdaq, the most realistic short-term scenario:
Hit resistance at the current 2h Order Block,
Maybe a small pullback toward 18,900–19,000,
Then continuation higher toward 20,000 or even 21,000 over the next few weeks.
S&P 500: Key Levels and Potential ScenariosThis analysis of S&P500 will explore both bullish and bearish scenarios, incorporating key levels and considering possible market and crowd psychology.
Bullish Scenario: Potential Uptrend Resumption
From a bullish perspective, if the S&P 500 maintains a position above the 5482 level, it could suggest a potential end to the current correction and a resumption of the major uptrend. A hold above 5482 might reinforce bullish sentiment, encouraging further buying activity, as traders may view this as confirmation of renewed strength. The index could then potentially retest the 5801 level, where it's possible that the index may encounter resistance on the first attempt. A successful break above 5801 would then open the path towards the 6135 zone, which represents a key upside target.
Bearish Scenario: Potential Retest of Support Zones
Conversely, if the S&P 500 fails to hold above the 5482 support level might trigger increased selling pressure, as traders liquidate positions. The index could then potentially retest the 5092 to 4833 support zone. This zone represents a critical area where buyers may step in, but a break below it would signal further weakness.
Concluding Remarks
In conclusion, the S&P 500's price action around the identified key levels will be crucial in determining its short- to medium-term direction. A sustained hold above 5482 could favor a bullish continuation towards 5801 and potentially 6135, while a break below 5482 might lead to a retest of the 5092 to 4833 support zone.
Bullish rise off pullback support?GER40 has reacted off the support level which is a pullback support and could potentially rise from this level to our take profit.
Entry: 22,032.93
Why we like it:
There is a pullback support.
Stop loss: 21,497.17
Why we like it:
There is a pullback support.
Take profit: 23,476.82
Why we like it:
There is a pullback resistance.
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Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
US30 - Signs Point to Deeper Correction AheadBased on the chart of the Dow Jones Industrial Average, there appears to be a significant probability of a deeper correction from the current resistance levels. The index has formed what looks like a double top pattern near the 40,400 level, with notable resistance zones highlighted in blue on the chart. After recovering from the early April selloff that took the index down to around 36,600, the Dow has been unable to reclaim previous highs, instead facing rejection at these resistance levels. This price behavior, combined with the technical setup shown on the chart, indicates that we could see a more substantial pullback in the coming sessions if these resistance levels continue to hold.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
MAGS SUPER STRUCTURE FORMING CAUTION!We have MEGA superstructures forming everywhere. H&S Eiffel Towers, etc.. None will be more devastating to 401ks and people's portfolios than the MAGS breaking down from this mammoth structure.
Last chance to GTFO forming.
CAUTION is in order!
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S&P 500 Daily Chart Analysis For Week of April 25, 2025Technical Analysis and Outlook:
In this week's trading session, the Index did steady to higher prices, distancing itself from the rendered obsolete Mean Resistance level of 5455 and targeting the next significant mark identified as Outer Index Rally 5550. This trend lays the groundwork for a continued upward movement; however, there is also a considerable risk of a sharp pullback to the Mean Support level of 5370 after reaching the Outer Index Rally at 5550.
Contrariwise, it is essential to acknowledge the possibility of upward momentum continuation resulting in meeting the primary target Outer Index Rally 5550 by challenging the Mean Resistance of 5672 and extending toward additional levels: Mean Resistance 5778 and Outer Index Rally 5945.
S&P 500 tests key resistance as trade uncertainty continuesTrump continues to say positive things - just now suggesting that they are very close to a deal with Japan on tariffs. But it is China where the bulk of uncertainty lies. He has been quite upbeat this week, but China continues to push back against the optimism.
European indices extended their gains, buoyed by the previous day’s upbeat mood, while US futures have given up their earlier gains. The shift likely linked to an interesting interview US President Donald Trump gave to Time Magazine.
While Trump claimed Chinese President Xi had personally rung him — and insisted that negotiations with Beijing were progressing — it was his remark that he’d consider “50% tariffs a year from now” to be a success that seemed to spook investors. Unsurprisingly, that struck a more hawkish tone, nudging some traders to lock in profits.
Earlier in the session, risk appetite had been given a lift after reports surfaced that China was weighing tariff exemptions for select US imports. This, combined with upbeat comments from Trump the day before and a solid set of earnings from Alphabet, helped extend the rally in equities.
Gold, meanwhile, gave back some ground — dipping below the $3,300 mark — as safe haven demand cooled in response to the renewed optimism. Yet, beneath the surface, caution remains palpable. Trump’s off-the-cuff comment about 50% tariffs a year from now served as a stark reminder that nothing is set in stone, and that the trade saga is far from over.
As such, while some of the worst risk-off flows may be behind us, it’s far too soon to declare an end to the market turmoil. A period of consolidation — both in equities and gold — may now be on the cards.
Meanwhile the S&P 500 has entered a key area of resistance between 5490 to 5550 area. A bearish trend line also comes into play. A clean break should be positive from a short-term point of view, while a sharp rejection is what the bears would be looking for.
By Fawad Razaqzada, market analyst with FOREX.com
US100 - Corrective Pullback into FVG + Golden Pocket setup?This 1H Nasdaq chart paints a classic structure of retracement within a bullish leg, offering potential for continuation after a clean corrective move into inefficiency. It's all about balance restoration before the next impulse.
---
1. Resistance Reaction & Local Distribution
Price faced strong rejection at a clearly defined Resistance Zone , marking a point of supply where sellers stepped in with aggression.
- The sharp rejection indicates profit-taking from earlier longs or a short-term distribution zone.
- Structure is transitioning from impulsive to corrective, suggesting a pullback is unfolding rather than a trend reversal (at least for now).
---
2. Short-Term Demand Zone Holding Price (Gray Box)
Before reaching deeper liquidity, price is hovering above a local demand block —a previously unmitigated consolidation that supported the last push up.
- This gray zone may provide temporary support, but lacks depth of imbalance.
- It's a weak floor, and smart money typically seeks deeper fills for proper re-accumulation.
---
3. Fair Value Gap Below (Primary Draw on Liquidity)
The key area of interest lies just below, where a clean Fair Value Gap (FVG) is formed. This imbalance represents a void in price action where buy-side inefficiency remains.
- Aligned with the 0.618–0.65 Fibonacci retracement range (confluence entry).
- Price is likely to seek this inefficiency for proper rebalancing.
- It’s not just a “fill the gap” play—it’s a liquidity grab where smart money is most likely waiting.
This zone is ideal for reaccumulation before resuming the move higher.
---
4. Internal Structure Suggests Bullish Intent After Fill
Price is forecasted to:
- Step 1: Break beneath the short-term demand to draw in liquidity
- Step 2: Tag the FVG zone, tapping into fresh demand
- Step 3: Shift structure via higher low formation and breakout
This is the behavior of an engineered retracement—not panic selling.
---
5. Macro Bias Still Bullish – Controlled Pullback
While the short-term price action looks bearish, the context remains supportive of upward continuation:
- No signs of aggressive selling below structure
- Current flow is corrective, not distributive
- FVG zone is strategically placed in alignment with optimal trade entry levels (OTE)
If this zone holds, expect a return to bullish expansion targeting inefficiencies left behind on the push down.
---
Conclusion:
This setup is textbook:
- Efficient rejection at resistance
- Controlled retracement into FVG with Fibonacci confluence
- Potential structural shift post-rebalance
Watch for bullish intent to return once the imbalance is filled. Until then, this is not a breakdown—it's a setup.
Potential bullish rise?USTEC has reacted off the pivot and could rise to the overlap resistance.
Pivot: 18,950.55
1st Support: 18,467.08
1st Resistance: 20,258.77
1st Resistance: 34.50
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Bearish reversal?DAX40 (DE40) is rising towards the pivot which has been identified as a pullback resistance and could reverse to the 1st support which acts as a pullback support.
Pivot: 22,248.86
1st Support: 21,516.36
1st Resistance: 22,712.27
1st Resistance: 34.50
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Analysis of Nasdaq 100 (US100) based on Price ActionThis analysis examines the recent price action of the Nasdaq 100 (US100) and identifies potential scenarios based on key technical levels.
Current Situation:
The price has recently moved above a short-term downtrend line, which could indicate a shift in momentum. This development suggests a possibility of upward movement.
Potential Bullish Scenario:
A decisive break and sustained close above the recent resistance level of 19,224 may open the door for further gains. In such a scenario, the index might target the 20,329 level. A successful move beyond that could potentially lead to a test of the historical peak at 22,245.
Potential Bearish Scenario:
Conversely, if the index fails to overcome the 19,224 resistance, there is a chance it could retest previous support levels. These levels are identified at 17,592 and, subsequently, at 16,322.
Conclusion:
The US100 is currently at a critical juncture. The ability of the price to sustain a move above 19,224 may determine its short-to-medium-term trajectory. Both bullish and bearish scenarios remain possible, and traders should monitor price action closely around these key levels.
NASDAQ Potential DownsidesHey Traders, in today's trading session we are monitoring NAS100 for a selling opportunity around 19,400 zone, NASDAQ is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 19400 support and resistance area.
Trade safe, Joe.
DAX H1 | Potential bullish bounce?DAX (GER30) is falling towards a pullback support and could potentially bounce off this level to climb higher.
Buy entry is at 21,467.75 which is a pullback support that aligns close to the 23.6% Fibonacci retracement.
Stop loss is at 21,000.00 which is a level that lies underneath an overlap support.
Take profit is at 22,576.90 which is a swing-high resistance.
High Risk Investment Warning
Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Stratos Markets Limited (tradu.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Europe Ltd (tradu.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Global LLC (tradu.com):
Losses can exceed deposits.
Please be advised that the information presented on TradingView is provided to Tradu (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd.
The speaker(s) is neither an employee, agent nor representative of Tradu and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of Tradu or any form of personal or investment advice. Tradu neither endorses nor guarantees offerings of third-party speakers, nor is Tradu responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
SP500 remains very bearish overall📈 In my previous post, I highlighted the confluence support zone and the potential for a bounce — and we got it. SP500 rallied around +10% off the lows.
But let’s not get too comfortable...
❓ I s the worst behind or is this just a trap before the next leg down?
From my perspective, the correction is not over.
The current bounce looks more like a bear market rally than a true reversal.
📉 Why I expect another drop:
1. Technically, as long as SP500 is trading below 5500-5600 zone, the structure remains bearish
2. Fundamentally, the backdrop hasn’t improved — if anything, it’s getting worse
3. Price is approaching a major resistance zone, which I plan to sell into
📌 My Plan:
I’m watching this zone for signs of weakness.
If momentum fades, I’ll look to short, targeting at least 5k, potentially even a new local low.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
Could the price bounce from here?Dow Jones (US30) is falling towards the pivot which is an overlaps upport and could bounce to the 1st resistance which acts as a pullback resistance.
Pivot: 39,318.40
1st Support: 37,848.26
1st Resistance: 40,824.20
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.