Since the "election all-time high" just under 3700, SP500 continued its rise, but this is anemic to say the least with the index gaining around 3% in the past 2 months. The rise is in a tight channel which for me is an indication of an imminent reversal. A break under this channel's support can be the signal for sellers and 3500 is a very modest target for this...
After a nice Pin Bar in support followed by a 4 days uprun is time for the "hanging man" to give us a warning... Friday's session was dominated by NFP's volatility and I wouldn't have paid much attention to this candle if it hadn't been in resistance. I expect 3500 zone to be a hard zone to pass by bulls and the index could fall to at least 3200 in the next 2-3...
Great SHORT Entry point, right here, right now -> @3360. SELL it hard!!
As I said in my previous SP500 analysis, 3500 should be a great sell zone for bears. The index reached that zone, has reversed and now is trading just above 3250 support zone. A small rally should be expected now and bears have a new opportunity for opening trades around 3400 I maintain my target of 3k for this index and only a new all-time high would change my perspective
It's my personal analysis and opinion, act at your own risk when trading. It's not investment advice.
OANDA:SPX500USD SELL 2998.8 SL-3025 TP1-2948 TP2-2895
1 - the eco data are worst more than expected 2- he like filled THE big gap 3 - he traced 61.8 fibo from the #COVID19 krach ,my target are not so far so i think its a good timing and a good trade with good gain to try 4 - he up much on Gilead treatment but in fact even a Vaccin will not erase what the economy is now and all her drama economic data like pmi ,Gdp...
Friends, please before reading, support this idea with your Like and any Comment, thanks. You can sell SP 500 AUDNZD from 3290-3300 Stop-loss at 3340 You will find more trading ideas in SAV Finance community.
All indications fro our system say that Sp500 and other indcies should be moving lower.. connect that with coronavirus (airline & travel shares) and you have a recepie for selling :D
OANDA:SPX500USD SELL 3191.9 SL-3283.6 TP1-3030.8 TP2-2826.1
„Goin‘ against the melt-up trend?“ vs “Profittin‘ from substantial overbought market situation?“
Take note that the daily and monthly time frames show similar ranges as this weekly time frame For a while on the SP500 0.13% on the weekly time has been close to the upper range of the big range. Inside this range we can now also draw a smaller range thats is narrowing. The Stoch indicator is also making a nice bearish crosser after last weeks close. The ADX...