Bearish Scenario: Sales below 5220... Bullish Scenario: Buys above 5225 (if price fails to break below decisively) ...
S&P: the W-shape cyclical recovery
2020-11-06 • Updated
Let's look at the S&P daily chart. You can see the recent rise it made from 3 225 to almost 3 580. What's the strategic look though?
If the cyclical "logic" of the market (local bottom touched twise, two lower highs, and a breakthrough - a schematic sample is marked below) stays, we will see the S&P rise above 3 800 eventually. Probably, it will reach the area of 3 850. Over there, it will peak. Then, it will drop to 3 580 - the current resistance that wlil serve later a support level. The process will take not less than two months though so let's be patient and watch.
And as usual - take these predictions as hypothecial assumtions, all subjects to the actual conditions of the market and things to be time-checked and reality-checked.
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Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
Bearish scenario: Sell below 2200 / 2194 ... Nearest bullish scenario: Buy above 2197... Bullish scenario after retracement: Consider buys around each indicated demand zone