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1hourtrader

S&P 500 (2H chart) @ 6 December 2022S&P 500 (2H chart) @ 6 December 2022 Drilling down to the more granular 2-hour chart, it's clear that the S&P 500 is at another make-or-break situation... - Index is testing the strong support (blue line) - Index previously rejected two strong resistances:- (i) mid-term trendline (red line) and (ii) long-term counter-trendline (orange line)
TVC:SPX
by Jerm88
S&P 500 @ 6 Dec 2022S&P 500 @ 6 December 2022 - Rejection of strong counter-trendline (orange line) - Last night, tested the previous Head-and-Shoulder's (blue line) Neckline (red line) If Index rebounds from here (and there's favourable news from the FOMC meeting on 15 Dec), we will likely see a break of the strong counter-trendline (blue arrow). I would be bullish for the mid-term. If the current support breaks (red line), we might see the Index falling towards 3700-3800 levels again (red arrow).
TVC:SPX
by Jerm88

Select market data provided by ICE Data services. Select reference data provided by FactSet. Copyright © 2025 FactSet Research Systems Inc.© 2025 TradingView, Inc.

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