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BlueHatInvestor

US500 ~ Ho Ho Santa Rally or EOY Bah Humbug Bust? (4H)

US 500 (CAPITALCOM:US500)  
BlueHatInvestor Updated   
CAPITALCOM:US500   US 500
Trend Analysis Support and Resistance Fibonacci us500 us500analysis S&P 500 E-Mini Futures SPDR S&P 500 ETF (SPY) S&P 500 (SPX500) SPX (S&P 500 Index) CFD chartanalysis Technical Analysis
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trendanalysis supportandresistance fibonacci us500 us500analysis es1! spy spx500 spx cfd chartanalysis technicalanalysis
US500 chart mapping/analysis.

S&P 500 holding in choppy consolidation after November ripper rally.

Trading scenarios into EOY:
  • Bullish reaction to macro economic news = break above ~4610 trading range (yellow dashed) towards ascending trend-line (green) / red box confluence zone.
  • Bullish extension target(s) = re-test ~4820 previous/historical ATH.
  • Bearish reaction to macro economic news = break below ~4524 trading range (yellow dashed) towards ~4450 / 200SMA dynamic support confluence zone.
  • Bearish extension target(s) = Golden Pocket / descending trend-line (white dotted) confluence zone aka "Return to Scene of Crime".
Comment:
US500 chart update (Thurs 14/12):
  • Face-ripping rally off dovish Fed Pivot commentary.
  • Price action = tag, break & hold just above ascending trend-line (green).
  • Further bullish momentum to push towards prev historical ATH (~4820), otherwise succumb to selling/overbought pressure & mean revert back into year-long ascending wedge formation for consolidation, TBC.

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