S&P 500 IndexUpdated SPX has a perfect gap fill confluence on Dec 1st
I really like what I see here:
- Longer term broken to the upside downtrend line test from the top 3744-50SPX
- As well as the gap to close from CPI numbers 3748.85SPX
All comes to Dec 1st.
Number to watch for tomorrow is 4010.50SPX on closing level.
- If the price gets to 4007SPX I will short with a 10+ points stop
Maj support is at 3744SPX on closing level
As noted before, I expect a strong selling into the EOM, ideally we mark a high on the 25-28th and sell hard from the 28th high.
The month of Nov will have a lower close then Oct month.
Ideal downside timing date is Dec 1st for the low and a high (wave 2) on Dec 6th.
From there the price will produce some strong selling into 3389 and ideally 3212SPX by the Dec OPEX or few days later.
A small recovery into EOY and high in Jan with crash from there.
Next year will produce a great long term long opportunity imo.
Have a great night
- Longer term broken to the upside downtrend line test from the top 3744-50SPX
- As well as the gap to close from CPI numbers 3748.85SPX
All comes to Dec 1st.
Number to watch for tomorrow is 4010.50SPX on closing level.
- If the price gets to 4007SPX I will short with a 10+ points stop
Maj support is at 3744SPX on closing level
As noted before, I expect a strong selling into the EOM, ideally we mark a high on the 25-28th and sell hard from the 28th high.
The month of Nov will have a lower close then Oct month.
Ideal downside timing date is Dec 1st for the low and a high (wave 2) on Dec 6th.
From there the price will produce some strong selling into 3389 and ideally 3212SPX by the Dec OPEX or few days later.
A small recovery into EOY and high in Jan with crash from there.
Next year will produce a great long term long opportunity imo.
Have a great night
Note
Zoomed in 1h chart with the support box for tomorrow in case the price will gap
down in am.
Support is at 3900-17SPX
Resistance 4007-20SPX
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.