Spx500analysis
SPX500 WEEKLY FORECASTHello Traders, here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied
SPX500 BullishAll indexes are currently bullish which indicate longs, SPX500 has broken previous support and is now consolidating, unless the market is going to crash soon (strong probability) this is a perfect opportunity to get into a either short term or long term buy once it breaks consolidation as a 2nd confirmation.
SPX500 valuation action:A continues fall - price directly slop from 3224 to 2995.
It can see that when there is continue fall price bounce up-to 100 points.
The price was trading near the support line that became the strong point for breakout.
It can be seen that the price can move near the support line that is support become resistance.
As we can see there is not a strong point for any support below 2973 price can fall still down.
SPX500 Thinking out loud - Price projectionsJust my thought will change nothing on my day trading, but just talking to myself, what is possible. Every big correction, and problems, we had the second drop, and lower low.
SPX Bullish and Steady - Re-entering Pre-Covid 19 ChannelTaking a look at the lower trend line dating back to 2016, you'll see obvious esistance levels, and the two out of balance areas. One being Covuid-19. We were quick to recover and re-enter that Channel. Yesterday, bottom of that trend line was hit around 3,000 and is slowly recovering from that bounce. Set you're fibs and find a good entry. Don't let the bears get you down. Go long for the long run.