Bearish Scenario: Sales below 5220... Bullish Scenario: Buys above 5225 (if price fails to break below decisively) ...
S&P 500: two scenarios
2021-03-11 • Updated
What's on
The stock market seems to be on a bullish track now. The S&P bounced upwards from the support of 3870 where the three Moving Averages were converging and currently is flirting with the four-week resistance of 3935. What to do now?
Mid-term action plan
Watch how the index behaves against the resistance of 3935
Bounce downwards
- Factor in a possible downward reversal at 3935 like it happened on February 25
- Noting that we’re in a bullish trend now, if a bounce downwards happens, it will likely send the index either to the support of 3900 or 3870 before bulls take over again
Punching through
- If no bearish reversal pattern forms on lower timeframes around the resistance of 3935, it’ll likely be crossed
- Assume that upon crossing, the S&P 500 will go straight to 3960
- At the resistance of 3960, a reversal downwards may happen – factor in this potential and prepare the support of 3935
Similar
Bearish Scenario: Sell below 39600... Anticipated Bullish Scenario: Intraday buys above 39750... Bullish Scenario after Retracement: Intraday buys above 39150
Coinbase (#COIN) saw its revenue rise to $773 million in Q1 2024, marking a 23% increase from the previous quarter and surpassing analyst expectations.
Latest news
Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...