S&P500 future – After previous analysis, the 3680 held and we reached our upside targets at 3706 – 3737 – 3778 – 3800 – 3870 and for now 3891.
Bear scenario:
It is important for bulls that the price zone at 3870 and 3840 not undercut. Should this price zone be undercut, a furhter correction could push the bulls back into our price zone of 3800 ect.
Bull scenario:
The next upside target is at - 3900 - 3920 and then 4005. Upside and downside targets see chart.
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 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 that the price zone at 3870 and 3840 not undercut. Should this price zone be undercut, a furhter correction could push the bulls back into our price zone of 3800 ect.
Bull scenario:
The next upside target is at - 3900 - 3920 and then 4005. Upside and downside targets see chart.
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 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