Spx500analysis
SPX500 - SHORT STRUCTURE IDEA (TARGET 4725)What's on the chart?
1) An old high that marked a strong year for 2023.
2) A rebound in a weekly FVG that earlier served as a bullish signal for prior trading sessions.
3) In the process of that rebound, a 4H bullish FVG was formed which will serve as our target area + fibs.
4) The 2023 high was broken.
5) IMPORTANT: the new high wasn't taken out. Hmmm.. suspicious. That to me is a sign of weakness from the bulls.
6) On this flop of bullish momentum, a bearish 4H FVG was formed.
7) Market structure shift with a low taken out. Do we expect a rebound? Well I don't know. I'm not here to claim that I predict the future like most twitter gurus will imply. But if it does, this is how I see the rest go down.
8) A rebound in the 4H FVG, this is crucial for a short setup because it would imply a lower high. Super important!! Price doesn't need to go that high though to find a short setup. We could just break our imaginary trendline and that's it.
9) The descent into the abyss of short profits (or liquidations lol).
End of Bullish Supertrend? Journey from Support to SupportDear Esteemed Members,
The supertrend was bullish, but two sell signals concluded with a bearish price action.
The rejections happened around the resistance level from a previous top.
The price is now below the upper green support level.
I think the S&P 500 market will reach the next support level: around $4600.
So, I'd consider a short position. You can target the bottom support level of $4600, but keep a stop loss if the market reverses from the proximity of the violated support level.
You can observe a similar setup on my yesterday ES analytics, where I explained a bearish MACD, RSI, BBP, and MFI.
Kind regards,
Ely
S&P500 Next Support LevelClosely monitor the zone indicated in above chart.
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Will the S&P500 Index Touch a New All-Time High(ATH)❗️❓📈Because the S&P500 Index is near an All-Time High(ATH), I decided to analyze this index for you and answer the question of whether the S&P500 Index can create a new All-Time High(ATH) or not.
🏃♂️The S&P500 Index has already managed to break the 🔴 Resistance zone( $4,640-$4,540 ) 🔴 and is moving near the 🟡 Price Reversal Zone(PRZ) 🟡 and Resistance lines .
🔔I expect two scenarios for the S&P500 Index:
The scenario of S&P500 Index falling to the broken 🔴 Resistance zone( $4,640-$4,540 ) 🔴 (as a pullback ) and rising again.
In the second scenario, the S&P500 Index falls to the 🔴 Resistance zone( $4,640-$4,540 ) 🔴 and continues falling to the Fibonacci levels that I marked for you in the chart. We saw a bull trap in this scenario.
🔔So, in general, I expect that the S&P500 Index will NOT be able to break 🟡 Price Reversal Zone(PRZ) 🟡and will decrease by at least ➖3% in the coming weeks.
S&P500 Index (SPXUSD),4-hour time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
SPX500 - New Breakout 📈Hello Traders !
On The Daily Time Frame, The SPX500 Price Reached A Strong Support Level (4141.00 - 4103.00).
The Resistance Level (4397.84 - 4376.45) is Broken and Becomes a New Support Level.
The Resistance Line is Broken.
So, I Expect a Bullish Move📈.
i'm waiting for retest...
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TARGET: 4500.00🎯
SPX500Pair : SPX500 Index
Description :
Exp FIAT as an Corrective Pattern in Short Time Frame and Rejection from the Lower Trend Line after it has Completed " abcde " Corrective Waves. Impulsive Wave " 1234 " Completed at Fibonacci Level - 50.00%
Entry Precaution :
Wait until it Breaks or Rejects UTL
S&P 500 - Bullish Continuation for 2024█ OVERVIEW
Since 2022, the S&P 500's consolidation efforts seem to be coming to a clear Head and Shoulders pattern, completed by a recent 3 bullish drives pattern. While it would be naive to think a straight beeline to 5000 is in play, the current price of 4350 is suggesting a return to new highs in early-mid 2024. This is likely to be in sync with the Federal Reserve rate hikes and the resulting market adjustments made at each announcement by Chair Powell. Sharing this as an educational/informative learning opportunity of technicals playing in sync with fundamentals.
█ CONCEPTS
Head and Shoulders
The inverse head and shoulders pattern is a widely recognized technical chart pattern seen on analysis across this platform. Primarily, many see the pattern used in potential trend reversals in various types of markets, particularly in stocks, currencies, and commodities.
The iH&S pattern consists of three main components:
Left Shoulder: First phase that occurs during a downtrend. Represents a temporary low - selling pressure starts to weaken and buyers start to enter
Head : Central and most important component of the pattern. The head forms after the left shoulder and becomes the lowest price level reached in the downtrend
Right Shoulder : Similar to the left shoulder in that it represents another temporary low point in the price
Three Bullish Drives
First Drive: The first drive occurs after a prolonged downtrend, during which selling pressure has dominated the market. In this phase, the price of the asset starts to show signs of stabilization or slight recovery.
Second Drive: Following the initial recovery, there is often a pullback or consolidation in price. This is the second drive, during which the asset's price retraces to some extent but doesn't make new lows.
Third Drive : The third drive is the final and critical phase of the pattern. It occurs when buyers make a strong push to drive the price higher, surpassing the previous resistance levels and confirming the trend reversal.
SPX500 19/10 MovePair : SPX500 Index
Description :
Bearish Channel Pattern as an Correction in Long Time Frame and Rejection from Lower Trend Line and Rising Wedge as an Corrective Pattern in Short Time Frame with the Breakout of the Lower Trend Line. Completed " ABC " Correction.
Entry Precautions :
Wait until it Complete its Retest and Rejects
$SPX: The S&P 500's Key Yellow Resistance TargetIn my previous update I discussed that SP:SPX has lost a key support level in the orange support zone. SP:SPX was sitting under resistance as investors waited for Friday jobs data. The strong jobs data led to a spike back up and SP:SPX has successfully regained support at this orange zone again. My current price target for SP:SPX is the yellow resistance trend line.