The S&P 500 index(
SPX500) is currently moving within a support zone($7,402-$7,326), attempting to break through this area. Considering today’s U.S. economic data, it seems likely that we might see a break of this support zone($7,402-$7,326).
From an Elliott Wave standpoint, the downward waves in the S&P 500 seem to continue.
I expect the S&P 500 to break the support zone($7,402-$7,326) in the coming hours and potentially drop at least to the support lines around $4,311. If the downward momentum is stronger, we can expect even lower levels.
First Target: $7,411
Second Target: $7,273
Third Target: $7,235
Stop Loss(SL): $7,474(Worst)
Note: Since Bitcoin(
BTCUSDT) is correlated with this index, a decline in the S&P 500 could also cause declines in cryptocurrency markets, particularly Bitcoin.
What’s your view on the S&P 500? Do you think it can break the support zone and fall further, or should we expect a rebound?
💡 Please respect each other's opinions and express agreement or disagreement politely.
📌 S&P 500 Index Analyze (SPX500USD), 1-hour time frame.
🛑 Always set a Stop Loss(SL) for every position you open.
✅ This is just my idea; I’d love to see your thoughts too!
🔥 If you find it helpful, please BOOST this post and share it with your friends.
SPX500) is currently moving within a support zone($7,402-$7,326), attempting to break through this area. Considering today’s U.S. economic data, it seems likely that we might see a break of this support zone($7,402-$7,326).From an Elliott Wave standpoint, the downward waves in the S&P 500 seem to continue.
I expect the S&P 500 to break the support zone($7,402-$7,326) in the coming hours and potentially drop at least to the support lines around $4,311. If the downward momentum is stronger, we can expect even lower levels.
First Target: $7,411
Second Target: $7,273
Third Target: $7,235
Stop Loss(SL): $7,474(Worst)
Note: Since Bitcoin(
BTCUSDT) is correlated with this index, a decline in the S&P 500 could also cause declines in cryptocurrency markets, particularly Bitcoin.What’s your view on the S&P 500? Do you think it can break the support zone and fall further, or should we expect a rebound?
💡 Please respect each other's opinions and express agreement or disagreement politely.
📌 S&P 500 Index Analyze (SPX500USD), 1-hour time frame.
🛑 Always set a Stop Loss(SL) for every position you open.
✅ This is just my idea; I’d love to see your thoughts too!
🔥 If you find it helpful, please BOOST this post and share it with your friends.
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🚀 Up to 75% Trading Fee Rebates Across 20+ Exchanges:
🤖 t.me/Protrader365bot
-----
🎁 Free VIP Forex and Crypto Signals, please visit:
🔗 t.me/ProTrader_365
🤖 t.me/Protrader365bot
-----
🎁 Free VIP Forex and Crypto Signals, please visit:
🔗 t.me/ProTrader_365
Verbundene Veröffentlichungen
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.