Please see chart for brief opinion on what i think is happening. Enter and exit at your own risk.
DISCLAIMER
Please note that this chart is an opinion based chart only. Please trade at your own risk
My earlier forecast of a dip has not yet happened. The market did not respond to the turning of the moon cycle. This is strange. A fall should occur later this week.The fall does not have to be large but should at least be 50 points.
The market is psychologically very strong and some trigger in the opposite direction is needed
- Chinese retail and GDP data later...
SPX500 have been trading in a narrow range channel - so far it broke the base of the channel, expecting this market to break down which is more probable scenario to me at the moment, but if it doesn't then i am looking the top of the channel for a short trade.
As this market is bearish trending and momentum on all across higher time frames supporting the view, so...
SPX500 is approaching our first support at 2600 (100% Fibonacci extension, Horizontal swing low support, 76.4% fibonacci retracement) and a strong bounce might occur above this level pushing price up to our major resistance at 2808 (61.8% Fibonacci retracement, Horizontal overlap resistance).
Stochastic (89,5,3) is also approaching support and we might see a...
FROM MY LAST ANALYSIS OF THIS I AM EXPECTING
A CONTINUATION. EXPECTED REVERSAL NOW OCCURED
NOW GOING UP. ONCE REAKS BLUE LINE EXPECTING A RAPID MOVE UP.
LIKE, FOLLOW AND COMMENT :)
SPX500 trading in a multi-days bullish channel with tops and lows. Price action is compressing near the resistance area. Chances are it continues compression a little further. Momentum is getting weaker as well so I am looking for a strong break. If you have your trading strategy watch out this market for shorts.
Trade Safe!
SPX500USD is testing its resistance at 2828 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where it could potentially fall to its support at 2790 (38.2% Fibonacci retracement, 100% Fibonacci extension, horizontal swing low support).
Stochastic (55, 5, 3) is approaching resistance at 98% where a corresponding reversal could occur.
SPX500 have reached to its prior highs and a successful attempt to break highs have just been made, but i am wary of the market to reverse from here since momentum indicators supporting my view. I am looking to short this market, if you have your trading strategy, better go for short setups.
Trade Safe!
S&P500 fell sharply earlier this year, still this market is under correction until it breaks the top. But for now price action is stalling around the top of the multi-days channel, i am expecting a drop to at least test the $2,674 area. Look for sell setups if you have your trading strategy.
Happy Trading.
SPX500USD has broken out of its ascending support turned resistance line where it could potentially drop further. If it breaks past its support at 2662 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap support), it could fall to its next support at 2630 (100% Fibonacci extension, 50% & 61.8% Fibonacci retracement, horizontal swing low...
Descending channel plus lower low to lower high are being made so this indicates bearish move and also bearish triangle pattern is also formed as well.
That is 3 indications that this CFD will go bearish.
Hi EveryBody,
I got asked by a member to post about the SPX500USD. It 's my first time and I think I got lucky!
This one is almost ready to go with!
So same story:
-Touched the R3 Trying to retrace ( matches .5 % fibo Retracement)
- Pa will no longer be supported by the kumo structure
- Black hole formation indicates a free fall is coming
What is a black hole...
![SPX500USD: [SPX500USD]First Time and I am lucky[SHORT]](https://s3.tradingview.com/b/beGWYOJX_mid.png "[SPX500USD]First Time and I am lucky[SHORT]")
