S&P 500 Analysis: Reversal from All-Time High
S&P 500 Analysis: Reversal from All-Time High
The S&P 500 recently reached an all-time high but has since reversed. Stability below 5620 indicates a continuation of the bearish trend, targeting 5584 and 5550. Earnings reports are expected to play a significant role, potentially moderating bullish momentum.
Bullish Scenario:
To maintain a bullish trend, the price should stabilize above 5639, aiming for 5672 and 5688. For a sustained uptrend, the price must stabilize above 5688, potentially reaching 5750.
Bearish Scenario:
For a downtrend, the price should stabilize below 5620, targeting 5584 and 5550, especially if a 4-hour candle closes below 5620.
Key Levels:
- Pivot Line: 5620
- Resistance Levels: 5639, 5672, 5688, 5750
- Support Levels: 5584, 5550, 5525
Today's Expected Trading Range:
The expected trading range is between the resistance at 5672 and the support at 5550.
previous idea:
The S&P 500 recently reached an all-time high but has since reversed. Stability below 5620 indicates a continuation of the bearish trend, targeting 5584 and 5550. Earnings reports are expected to play a significant role, potentially moderating bullish momentum.
Bullish Scenario:
To maintain a bullish trend, the price should stabilize above 5639, aiming for 5672 and 5688. For a sustained uptrend, the price must stabilize above 5688, potentially reaching 5750.
Bearish Scenario:
For a downtrend, the price should stabilize below 5620, targeting 5584 and 5550, especially if a 4-hour candle closes below 5620.
Key Levels:
- Pivot Line: 5620
- Resistance Levels: 5639, 5672, 5688, 5750
- Support Levels: 5584, 5550, 5525
Today's Expected Trading Range:
The expected trading range is between the resistance at 5672 and the support at 5550.
previous idea:
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