S&P 500 E-mini FuturesUpdated S&P500 FUTURES, Major Triangle-Formation, Breakout-Indications!
Hello There!
Welcome to my new analysis about the S&P500 FUTURES on the 6-hour timeframe perspective. The Futures are currently in a important condition that is going to determine the upcoming trend-directions and is going to show up the decisive trend-dynamics to consider. Especially as inflationary pressures through the declining U.S. CPI are decreasing more and more this means that there is the potential for further demand expenditures to increase the demand within the stock market and turn out into determining price-action-volatility-increases to emerge within the upcoming times.
As when looking at my chart now the S&P FUTURES price-action is currently forming this crucial Ascending-Triangle-Formation within the chart marked in orange within which it already bounced several times to form the coherent wave-count having the major support-levels above the 65-EMA as well as 100-EMA. The fact that the S&P500 FUTURES still hold the main supports in the range especially above the major ascending-trend-line-lower-boundary this is a setup from where a final breakout above the upper boundaries of the ascending-triangle-formation is likely to be determined.
Within the next times it will be an important development to consider the final breakout as it is shown within my chart, such a final breakout is going to built the setup for the next continuations into the direction and extension of the wave-E within the whole structure. The only dynamic which could firstly invalidate such a breakout is when the index breaks out below the lower boundary and firstly continues into the lower levels to retest the remaining supports as they are marked within my chart. Such a retest could also mark the next considerable origin for further determinations in the structures.
In this manner, thank you everybody for watching the analysis, support from your side is greatly appreciated.
VP
Welcome to my new analysis about the S&P500 FUTURES on the 6-hour timeframe perspective. The Futures are currently in a important condition that is going to determine the upcoming trend-directions and is going to show up the decisive trend-dynamics to consider. Especially as inflationary pressures through the declining U.S. CPI are decreasing more and more this means that there is the potential for further demand expenditures to increase the demand within the stock market and turn out into determining price-action-volatility-increases to emerge within the upcoming times.
As when looking at my chart now the S&P FUTURES price-action is currently forming this crucial Ascending-Triangle-Formation within the chart marked in orange within which it already bounced several times to form the coherent wave-count having the major support-levels above the 65-EMA as well as 100-EMA. The fact that the S&P500 FUTURES still hold the main supports in the range especially above the major ascending-trend-line-lower-boundary this is a setup from where a final breakout above the upper boundaries of the ascending-triangle-formation is likely to be determined.
Within the next times it will be an important development to consider the final breakout as it is shown within my chart, such a final breakout is going to built the setup for the next continuations into the direction and extension of the wave-E within the whole structure. The only dynamic which could firstly invalidate such a breakout is when the index breaks out below the lower boundary and firstly continues into the lower levels to retest the remaining supports as they are marked within my chart. Such a retest could also mark the next considerable origin for further determinations in the structures.
In this manner, thank you everybody for watching the analysis, support from your side is greatly appreciated.
VP
Note
ANALYSIS UPDATE: The S&P500 FUTURES continued to test the main support levels aiming for a substantial bounce to emerge from there on.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
►✅JOIN THE BEST+ TOP TELEGRAM TRADING CHANNEL: t.me/VincePrinceForexGoldStocks
►🚀Write To Join the Elite VIP Signal Channels: @Vince_Prince
►🔥JOIN BYBIT TOP EXCHANGE►🎁 UP TO $30,000 BONUS NOW: partner.bybit.com/b/VinceByBit
►🚀Write To Join the Elite VIP Signal Channels: @Vince_Prince
►🔥JOIN BYBIT TOP EXCHANGE►🎁 UP TO $30,000 BONUS NOW: partner.bybit.com/b/VinceByBit
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.