Hello,
Welcome to this update-analysis about the S&P 500 Index. Now we are looking at the more global 2-day timeframe perspectives since the main head-shoulder-formation that I mentioned in my previous analysis before already completed and reached out to the lower targets in the structure already the more global perspective also got affected by this dynamic. The economic view for the stock market has accelerated negatively since the bearish declines emerged as the FED is looking to decrease its balance sheet, stop asset purchases, and possibly increase interest rates over the course of 2022 as announced. This economic view is bearing a bearish sentiment and as looking on the 2-day timeframe perspectives the technicals point toward the same as seen in my chart the Index is forming this massive head shoulder formation with the left shoulder and head already completed. Now as the Index approaches several upper resistances given by the volume profile resistance area, the descending resistance line together with the 20-EMA as resistance which was previously support and a local resistance given by price action there is a high likelihood given that the Index pulls back from here to complete the whole formation with a breakdown below the neckline which will cause further bearish declines to accelerate. In this case, the Index will activate the lower target zone as seen in my chart and from there on the situation needs to be elevated again, if the Index forms another bearish formation in this area a continuation will also not be unlikely, it will be an important journey ahead.
In this manner, thank you for watching the analysis, all the best!
"The high destiny of the market is to explicate, rather than to speculate."
Information provided is only educational and should not be used to take action in the markets.
Welcome to this update-analysis about the S&P 500 Index. Now we are looking at the more global 2-day timeframe perspectives since the main head-shoulder-formation that I mentioned in my previous analysis before already completed and reached out to the lower targets in the structure already the more global perspective also got affected by this dynamic. The economic view for the stock market has accelerated negatively since the bearish declines emerged as the FED is looking to decrease its balance sheet, stop asset purchases, and possibly increase interest rates over the course of 2022 as announced. This economic view is bearing a bearish sentiment and as looking on the 2-day timeframe perspectives the technicals point toward the same as seen in my chart the Index is forming this massive head shoulder formation with the left shoulder and head already completed. Now as the Index approaches several upper resistances given by the volume profile resistance area, the descending resistance line together with the 20-EMA as resistance which was previously support and a local resistance given by price action there is a high likelihood given that the Index pulls back from here to complete the whole formation with a breakdown below the neckline which will cause further bearish declines to accelerate. In this case, the Index will activate the lower target zone as seen in my chart and from there on the situation needs to be elevated again, if the Index forms another bearish formation in this area a continuation will also not be unlikely, it will be an important journey ahead.
In this manner, thank you for watching the analysis, all the best!
"The high destiny of the market is to explicate, rather than to speculate."
Information provided is only educational and should not be used to take action in the markets.
Comment:
SPX, Major H-S-Formation To Crucial Reversal! - Initial Analysis:
Comment:
SPX, Massive Breakdowns, Formation Completed, Crucial Sights! - Follow Up Analysis:
Comment:
The S&P 500 INDEX continued to complete the HS-Formation with the Right Shoulder.
Finally a breakout below the lower boundary happened and the index continued to reach out all the target-zones. ✔
Finally a breakout below the lower boundary happened and the index continued to reach out all the target-zones. ✔
Comment:
ANALYSIS UPDATE: The S&P 500 completed the whole head and shoulder formation rightly in the schedule and reached out to all target zones. ✔
Comment:
ANALYSIS UPDATE: The S&P 500 moved into the 20-EMA, which is an important EMA, and now important alterations have taken place.
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