SPX500USD: Intraday Downtrend

Jan 15

Market Overview
The SPX500USD index is currently trading within a moderate downtrend with a Trend Score of -40, as identified by BreadWinners INDI v2. The price is hovering near the Point of Control (POC) at 5,889, showing significant selling pressure. Short-term indicators suggest bearish momentum, but long-term moving averages hint at potential support near 5,800, which could lead to a reversal.

The SPX500USD is currently in a moderate downtrend, with selling pressure dominating near resistance levels. Support zones between 5,827 and 5,752 remain critical for potential bullish defense. Traders should monitor these key levels closely, using the suggested entry and stop-loss levels for disciplined trading.

Patience and risk management are key in this volatile environment.

Resistance Levels:

• Primary Resistance: 5,889 (Point of Control).
  
• Secondary Resistance: 5,922.84 (BreadWinners Stop Loss level).
  

Support Levels:

• Primary Support: 5,827 (BreadWinners Entry Price).
  
• Secondary Support: 5,752 (Lower Point of Control).
  

Oscillators
The oscillators indicate a mixed sentiment, with most leaning neutral and some showing divergence in momentum.

• Relative Strength Index (14): 39.65 (Neutral)
  
• Stochastic %K (14, 3, 3): 26.98 (Neutral)
  
• Momentum (10): -132.47 (Buy)
  
• MACD Level (12, 26): -35.46 (Sell)
  
• Stochastic RSI (Fast): 19.95 (Buy)
  
• Williams %R (14): -71.91 (Neutral)
  

The Momentum and Stochastic RSI indicate potential for a short-term recovery, while the MACD remains bearish.

Moving Averages
Short-term moving averages continue to signal a sell, reinforcing bearish momentum, but long-term moving averages suggest support levels could hold.

• Exponential Moving Average (10, 20, 30): Sell
  
• Simple Moving Average (10, 20, 30): Sell
  
• Exponential Moving Average (200): Buy
  
• Simple Moving Average (200): Buy
  
• Hull Moving Average (9): Buy
  
• Trade Strategy
  

Bearish Setup (Short Positions):

• Entry Zone: 5,889–5,900 (Primary POC and resistance zone).
  
• Stop Loss: Above 5,922.84.
  
• Target 1: 5,827 (Primary Support).
  
• Target 2: 5,752 (Secondary Support and Lower POC).
  

Bullish Setup (Long Positions):

• Entry Zone: 5,827–5,752 (Key support levels).
  
• Stop Loss: Below 5,740.
  
• Target 1: 5,889 (POC and resistance retest).
  
• Target 2: 5,922 (Short-term breakout level).
  

Jan 15

Note