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Spx500forecast

SPX500 - a drop from here?So it broke the recent trendline but bounced back and made a HH since futures trading opened after the weekend - a move similar to the past 3 months where we saw regular non-trading sessions move up effortlessly. Will have to see if it melts up further from here before formal session starts but that would depend on EU session. The new HH has been made with divergences on the MACD and RSI on the 1H timeframe, and with a less intense divergence but still present on the 4H timeframe. The 1H timeframe is printing 2 bearish dojis and the 4H time is looking to print its first bearish doji at the moment of writing but not confirmed yet. The EU starts trading in 1h and SPX will be affected by its direction. From the looks of it, price is fragile and we have some overhead resistance and a bit of room till 3190. Volume is mediocre so unless something changes we should see a topping pattern and with a breakdown of the trednline, a further move down. Perhaps we were in ABC correction and this will start the C wave all the way to low 2900 and even 2800s unless this was a new 1,2,3,4,5 and we just ended correction wave and it goes up to previous ATH. I would like to say the former scenario alligns with fundamental analysis as it should correct its overpriced levels and a new stimulus at the end of the month to push it higher. New cases in the US are expected to increase for the next month at least.
OANDA:SPX500USD
by badbeatnuts
🤔 Crunchtime! (SPX)💰 LET'S GET INTO SOME SPX 500 ANALYSIS!💰 1️⃣ First off SMASH that LIKE BUTTON & Give us a FOLLOW for DAILY ANALYSIS! ❤❤❤ (Overall Market Sentiment) 🤷 Neutral - 3day Chart - Candle Doji Compression - 2/3 EMA DOTS Red Is corona wave 2 on it's way? I hope so lol. This week will tell us some critical signs to take with us in the market next week. Stay alert as we could be experiencing early signs of trend change. Best of luck to you and all of your trades this week! 🤜 Drop your charts and comments down below, share with us what you think is going on in the markets! ❤❤❤ Thanks for checking out our analysis! ✌😁✌ 🥇MLT | MAJOR LEAGUE TRADER
TVC:SPX
by UnknownUnicorn2319099
6
Are we seeing the start of a downtrend for SPX500? Are we seeing the start of a downtrend for SPX500? Last week, we broke out of the rising wedge and gapped down. Currently, MACD, RSI, 2 Day "Rate of Change" and Filter wave are all showing bearish signals. Therefore, I am leaning towards the market to go down. If we close below 2934 (0.618 Fib retracement and 50 moving average), it is a CONFIRMED downtrend for me. Lastly, we cannot rule out sideways actions, it will not surprise me that we trade between the fib levels (2934 and 3136) for the next 5 days.
TVC:SPX
by johninvest17