S&P 500

Posts: 283 · #16 - August 01, 2020, 01:54:43 PM

SP 500 end of the week/month .

So the whole week was very consolidated: buyers around 3200 level and sellers around 3280..
From the monthly perpective - strong monthly close suggest further upside is possbile, weekly is inside previous week;s bearish pinbar but i think this pin is irrelevant for now as buyers easily touched 3280 few times.

h4 and daily suggest that 3280 could break higher (too many tests without break of this level) .

Posts: 283 · #17 - August 11, 2020, 06:19:10 PM

SP500

from last 7 days there was no down day for SP . Weekly is looking for new all time highs and monthly close was already at ATH levels. this all suggest very slow price action with big probability that this index will reach 3472. h4 still no reversal so the only strategy for now buying from 3339 or 3361 but overall these prices don't look good.

Posts: 283 · #18 - August 11, 2020, 07:30:44 PM

update
daily and h4 reversed and formed first reversal signal but it's not closed day yet.
if 3339 will hold further upside is still possible.

Posts: 283 · #19 - August 12, 2020, 06:09:31 PM

SP 500

previous day was a weak down day with a little selloff at the end of US session but from volume perspective there was still buying zone around 3319-3330 and today bounced to the upside. h1 and h4 near term support is located at 3361 , Daily weekly still are still looking like ATHs are very possible .