S&P500: Future 4 hour chart - Feb 22th.
S&P500 future – After previous analysis I only have some few changes. 3870 held and we reached our upside targets at 3900 – 3920 and for now 3964.
Bear scenario:
It is important for bulls that the price zone at 3870 and 3880 not undercut. Should this price zone be undercut, a furhter correction could push the bulls back into our price zone of 3850 - 3830 ect.
Bull scenario:
The next upside target is at 3915 - 3930 – 3950/70 and then 4005. Upside and downside targets see chart.
The bull market has continued since the March 2009 low. When the market turns, it can happen suddenly and unexpectedly. Always be prepared and trade one level at a time, as no one knows when we have a high or a low in place. The last one that occurred was the market panic in February/March of 2020. The structure of the market currently does not allow a medium term sell-off. This could change over the week but there is no trend reversal in sight.
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 a 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 3880 not undercut. Should this price zone be undercut, a furhter correction could push the bulls back into our price zone of 3850 - 3830 ect.
Bull scenario:
The next upside target is at 3915 - 3930 – 3950/70 and then 4005. Upside and downside targets see chart.
The bull market has continued since the March 2009 low. When the market turns, it can happen suddenly and unexpectedly. Always be prepared and trade one level at a time, as no one knows when we have a high or a low in place. The last one that occurred was the market panic in February/March of 2020. The structure of the market currently does not allow a medium term sell-off. This could change over the week but there is no trend reversal in sight.
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 a 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
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