Move lower in S&P500 to be expected?

9 Posts
Xtrader1
0
S&P500 H4 Analysis:

Expecting a move lower in S&P500.

Price is at resistance and at the upper border of the H4 upwards channel.

Notice that S&P500 failed to make higher highs while NASDAQ (blue line) did make higher highs.

This suggests distribution going on in the S&P.

Also notice the declining volume since the previous midterm low.

Also next rate hike coming up.


Chart: charts.mql5.com/18/498/s-p500-h4-ava-...
Bijlage:
Xtrader1
0
Update 1 S&P500:

Price pretty much respected channel and resistance.

FED rate hike triggered the move lower as predicted.

We witnessed a move lower after-hours.

Downside target 2700 almost hit.

Chart: cdn.thehuddle.nl/uploads/tenants/124/...
Bijlage:
Xtrader1
0
Update 2 S&P500:

On Thursday price approached but did not hit the downside target (2770).

Then price retraced most of the days move.

On Friday (Quad Expiry Day) price spiked down and hit downside target 2770 in a high volatility NY-session open.

Chart: cdn.thehuddle.nl/uploads/tenants/124/...
Bijlage:
Xtrader1
0
Update S&P500 - Friday Outlook:

Price continued lower begin of the week, tipping 2735

Then back up on Wednesday and back down on Thursday.

Expecting a higher price for Friday.

Upside targets are: 2765 & 2775.

Chart: charts.mql5.com/18/565/s-p500-m30-ava...
Bijlage:
Xtrader1
0
Xtrader1
0
Update SP500 - Friday rest of the day:

Looking for a retrace to 2755.00, then a continued move up towards second target (2775.00 - could be monday)

Chart: charts.mql5.com/18/567/s-p500-m15-ava...
Bijlage:
Xtrader1
0
Update SP500 - pre NY-session:

Still expecting a downturn to the middle of the range.

For begin next week looking for a bullish move.

Chart: charts.mql5.com/18/569/s-p500-m30-ava...
Bijlage:
Xtrader1
0
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