Spx500idea
S&P500 Next Support LevelClosely monitor the zone indicated in above chart.
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Are we halfway through a 3rd market cycle since 1932?This idea aims to visualize the market cycles in place since the great depression. Based on analyzing the cycles we can see some similarities which we may be able to use to our advantage. According to this analysis we are currently halfway through the 3rd cycle which started after the GFC in 2009. We had 2 bear markets since then which were both less than 50% in magnitude. All other information is on the chart!
ATTENTION: S&P 500 - Medium Term Right Side is DOWNTechnical Analysis:
- S&P is going to finish wave ((B)) in black in the next 2-4 weeks
- Short Term Right Side (H4) is turning up
- Medium Term Right Side is down to complete a wave II in red
Technical Information:
- Don't buy now S&P if you're a swing trader
- If you're a position trader please wait for wave II in red to be completed
SPX500 Next MovePair : SPX500 Index
Description :
Bearish Channel in Short Term as an Corrective Pattern
Exp FIAT
Buying Divergence
Bullish Channel in Long Time Frame as a Corrective Pattern and Rejecting Previous Resistance Level
If it breaks the Resistance Level and Retest then Buy
Break of Structure
#S&P 500 INDEX In its decreasing movement after breaking the trend line, it has created a very harmonic and beautiful trend with a greater slope than the higher time.
Currently, in dealing with a resistance level from the previous movements in the range of 4136.85, three ranges are expected before the range of 3898.11 in the areas:
1-4045.50
2-3996.74
3-3935.98
touch There is no need for the trend to reach all the above goals. The price moves towards the trend line with a lower slope.
In case of unexpected performance, the ceiling of the previous pattern in the range of 4320.08 is considered an important range.
SPX has crossed 200 DMA for the fourth timeS&P500 has crossed above the 200 DMA for the fourth time.
It is a critical rejection zone that will decide the fate of bulls vs bears.
It would be better to wait for price to move above 4 % of 200 DMA before taking a bullish view due to the past rejections at 3.35% and 2.62% approximately.
I would consider 4,132 level to be safe for long trades and would stay bearish below this level.