S&P500 future – After previous analysis 3880 failed and Friday at closing time we reached 3793.
Bear scenario:
It is important for bulls to recapture the price zone at 3850 and 3860 and hold. Should this price zone be undercut once again, a furhter correction could push the bulls back into our price zone of 3820 – 3800 – 3778 ect.
Bull scenario:
The next upside target is at 3860 - 3880 – 3920 - 3970/95 and then 4005. Upside and downside targets see chart.
The bull market has continued since the March 2009 low. When the market turns, it can happen suddenly and unexpectedly. Always be prepared and trade one level at a time, as no one knows when we have a high or a low in place. The last one that occurred was the market panic in February/March of 2020.
A bear market is when a market typically fall 20% or more from recent highs.
Notice how the market moves we see short and sharp corrections this is typical in the late stage of rallies - usually new highs will follow.
If we break resistance it become support If we break support it become resistance. Buy and Sell confirmation: Bull market don’t buy if the RSI is overbought always wait for a pullback. Bear market only sell when the RSI is overbought or wait for a bounce.
Keep it simple and trade with the trend – you will never lose and live 10 years longer!
Bear scenario:
It is important for bulls to recapture the price zone at 3850 and 3860 and hold. Should this price zone be undercut once again, a furhter correction could push the bulls back into our price zone of 3820 – 3800 – 3778 ect.
Bull scenario:
The next upside target is at 3860 - 3880 – 3920 - 3970/95 and then 4005. Upside and downside targets see chart.
The bull market has continued since the March 2009 low. When the market turns, it can happen suddenly and unexpectedly. Always be prepared and trade one level at a time, as no one knows when we have a high or a low in place. The last one that occurred was the market panic in February/March of 2020.
A bear market is when a market typically fall 20% or more from recent highs.
Notice how the market moves we see short and sharp corrections this is typical in the late stage of rallies - usually new highs will follow.
If we break resistance it become support If we break support it become resistance. Buy and Sell confirmation: Bull market don’t buy if the RSI is overbought always wait for a pullback. Bear market only sell when the RSI is overbought or wait for a bounce.
Keep it simple and trade with the trend – you will never lose and live 10 years longer!
Germany30 and S&P500 Intraday analysis August 23rd. and weekly update 34. Posted at twitter: twitter.com/SP500_Dow