Looks like October is shaping up to be a volatile month. You can play the volatility by shorting near the top and longing near the bottom of current range. Since we already bounced from the bottom of range, the next opportunity is going to be a short near the top. This play, which involves shorting a previous level of daily support which should now turn resistance...
Hi, today we are going to talk about the S&P 500 and its current landscape.
At the index, we observe a strong confluence of Gann. Such accumulation follows the narrowing of the supports and resistances of Gann. As possible trade targets, we have the Fibonacci retracement.
Thank you for reading and leave your comments if you like.
Red trendline is the target. expecting bounce from there. if it breaks (probably by 2020); its dommsday. excpeting the lower trending target (lower blue trendling by 2022/23).
The S&P 500 index is trading at a resistance of 2932 to 2950 respectively marked with red broken lines on the chart.
Since Sept 2018 it has fallen from this level 8 times and this is the 9th attempt. So on 4hrs chart, a close above or between 2885 and 2900 will be considered positive. Once a strong close above 2954 we can see a 50 points jump in this counter.
Standard and Poor's 500 Index is a capitalization-weighted index of 500 stocks. The index is designed to measure performance of the broad domestic economy through changes in the aggregate market value of 500 stocks representing all major industries. The index was developed with a base level of 10 for the 1941-43 base period.
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