Hotapay

SP500 Analysis

SPCFD:SPX   S&P 500 Index
101 views
2
Last week I was expecting the SP500 to reject the 61.8 Fib retracement level @2930 quite aggressively. This was overshot to 2970 due to better than expected earnings reporting.

With the open today (04May2020) we have broke below the downward trending white line, giving bears the upper hand.

BEAR
With the current setup we have I am neutral until we see a clean break of support at 2809. I will enter a short position on retest and rejection of this level with TP at 2729.

BULL
Long over 2889 (unlikely)..

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out