S&P 500: Volume Profile 📊 and Price action analysis 📋On S&P 500 is nice to see strong buying reaction from the price 4253 , there is nice to see strong volume area....
Where is lot of contract accumulated...
I thing that buyers from this area will be defend this long position...
and when the price come back to this area, strong buyers will be push up the market again...
Uptrend + Strong volume area is my mainly reason for this long trade....
Happy trading
Dale
Sap500
New ath on US500??Long till go wrong. This is rule n.1 after pandemic crash.
You can see on the chart, US500 is still going up with small correction. Corrections are usually around 5%.
Trading in this range is very simple.
Take long on supports and sell on resistance.
But it's also important to be carefull, bcs everybody are starting bullish and this is time to be bearish. In the market can not win everybody.
When this index is in the channel, there is still good oportunity to take longs.
SPX to follow in the path of QQQ?!A scenario that I can see playing out with the SPX is very simple, identical price action to what was seen with the QQQ in the last couple months. Price is going to make quick work of the previous ATH not giving an inch to the short sellers, achieve a new ATH a few percent higher before tapping the previous ATH to launch the index to a yearly high of 3700.