Today I want to share an S&P 500 index(
SPX) analysis, as this index plays a major role in guiding correlated markets—especially crypto, and particularly Bitcoin(
BTCUSDT).
The S&P 500 index entered the Potential Reversal Zone(PRZ)[$7,272_$6,870] and resistance zone($6,902_$6,875), where it began to fall.
The S&P 500 index also failed to form new Higher Highs(HH) and Higher Lows(HL), which signals weakening bullish momentum over the past 7 trading sessions.
From a classical technical-analysis perspective, it appears that the S&P 500 index has broken below the lower line of its rising wedge pattern, which is considered a bearish reversal pattern. The index is currently in the process of completing a pullback/retest of the broken structure.
My expectation is that the S&P 500 index may decline at least toward $6,823, and if important support lines break, we could see a deeper correction toward the measured move (target) of the rising-wedge pattern.
What’s your outlook on the S&P 500 index and the U.S. stock market?
First Target: $6,823
Second Target: $6,803
Stop Los(SL): $6,889(Worst)
------------------------------------------------
We should also keep in mind that several important US economic indicators will be released this week, which could significantly impact market direction. So be extra cautious with your positions, especially during data releases:
JOLTS Job Openings➡️09 December
Federal Funds Rate➡️10 December
FOMC Statement➡️10 December
FOMC Press Conference➡️10 December
Unemployment Claims➡️11 December
------------------------------------------------
💡 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.
SPX) analysis, as this index plays a major role in guiding correlated markets—especially crypto, and particularly Bitcoin(BTCUSDT).The S&P 500 index entered the Potential Reversal Zone(PRZ)[$7,272_$6,870] and resistance zone($6,902_$6,875), where it began to fall.
The S&P 500 index also failed to form new Higher Highs(HH) and Higher Lows(HL), which signals weakening bullish momentum over the past 7 trading sessions.
From a classical technical-analysis perspective, it appears that the S&P 500 index has broken below the lower line of its rising wedge pattern, which is considered a bearish reversal pattern. The index is currently in the process of completing a pullback/retest of the broken structure.
My expectation is that the S&P 500 index may decline at least toward $6,823, and if important support lines break, we could see a deeper correction toward the measured move (target) of the rising-wedge pattern.
What’s your outlook on the S&P 500 index and the U.S. stock market?
First Target: $6,823
Second Target: $6,803
Stop Los(SL): $6,889(Worst)
------------------------------------------------
We should also keep in mind that several important US economic indicators will be released this week, which could significantly impact market direction. So be extra cautious with your positions, especially during data releases:
JOLTS Job Openings➡️09 December
Federal Funds Rate➡️10 December
FOMC Statement➡️10 December
FOMC Press Conference➡️10 December
Unemployment Claims➡️11 December
------------------------------------------------
💡 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.
Сделка активна
Trade was activated Заметка
Less than 30 minutes left until the release of the Federal Funds Rate.Volatility may continue until the FOMC Press Conference.
Сделка закрыта вручную
The target was not touched by a difference of $2, and I took a risk-free position, which is normal in financial markets, and the reason was the emotional conditions in financial markets when interest rates were released.I always try to be transparent.
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🤖 t.me/Protrader365bot
-----
🎁 Free VIP Forex and Crypto Signals, please visit:
🔗 t.me/ProTrader_365
Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.
🚀 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
Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.