S&P500 1 Day Chart:
Short Price Target
V Calculation Negative
V = B - (C-B) = D
C $4,102 - B $3,491 = $611
B $3,491 - (C-B) $611 = $2,880 Price Target
Ichimoku Timespan:
A to B = 41-Bars (42-1)
B to C = 34-Bars (33+1)
C to D = 75-Bars (76-1) (41+34=75) Wednesday 22nd March 2023
Notes:
The Ichimoku Conversion Line (Tenkan Sen) looks like it is about to cross back under the Ichimoku Base Line (Kijun Sen) on this 1 day timeframe.
The Ichimoku Lagging Span (Chikou Span) looks like it is about to drop under the price from 26 Periods ago.
Note that the Leading Span A (Senkou Span A) and Leading Span B (Senkou Span B) support is very thin where the S&P500 Price is located at the moment.
We have a Double Top at the 50% Fib Level $4,102 which is located around C of our Ichimoku V Calculation.
The S&P500 Price is under its Bollinger Bands Basis 20 Period SMA and we have expansion of the Upper and Lower Bands and this is for negative momentum.
The S&P500 Price is also under its Volume Profile Visible Range Point of Control (VPVR POC) for this charts Visible Range.
Looking at the Moving Average Convergence Divergence (MACD) indicator, Momentum is downwards and we can see that the MACD Line is still under its Signal Line and is getting very close to the 0.0 Base Line.
From my opinion, analysing all the above indicators it's looking very likely that we will see the Price Target of $2,880. This will also be fully confirmed when/if the Leading Span A (Senkou Span A) crosses back under the Leading Span B (Senkou Span B) creating a Kumo Twist into a Bearish Red Cloud on this 1 day timeframe.
I hope this is helpful.
Short Price Target
V Calculation Negative
V = B - (C-B) = D
C $4,102 - B $3,491 = $611
B $3,491 - (C-B) $611 = $2,880 Price Target
Ichimoku Timespan:
A to B = 41-Bars (42-1)
B to C = 34-Bars (33+1)
C to D = 75-Bars (76-1) (41+34=75) Wednesday 22nd March 2023
Notes:
The Ichimoku Conversion Line (Tenkan Sen) looks like it is about to cross back under the Ichimoku Base Line (Kijun Sen) on this 1 day timeframe.
The Ichimoku Lagging Span (Chikou Span) looks like it is about to drop under the price from 26 Periods ago.
Note that the Leading Span A (Senkou Span A) and Leading Span B (Senkou Span B) support is very thin where the S&P500 Price is located at the moment.
We have a Double Top at the 50% Fib Level $4,102 which is located around C of our Ichimoku V Calculation.
The S&P500 Price is under its Bollinger Bands Basis 20 Period SMA and we have expansion of the Upper and Lower Bands and this is for negative momentum.
The S&P500 Price is also under its Volume Profile Visible Range Point of Control (VPVR POC) for this charts Visible Range.
Looking at the Moving Average Convergence Divergence (MACD) indicator, Momentum is downwards and we can see that the MACD Line is still under its Signal Line and is getting very close to the 0.0 Base Line.
From my opinion, analysing all the above indicators it's looking very likely that we will see the Price Target of $2,880. This will also be fully confirmed when/if the Leading Span A (Senkou Span A) crosses back under the Leading Span B (Senkou Span B) creating a Kumo Twist into a Bearish Red Cloud on this 1 day timeframe.
I hope this is helpful.