S&P500 (SPX) Price Analysis – March 01, 2024
Daily Price Outlook
Despite geopolitical tensions, the S&P 500 index maintained its upward rally and surged to a new record high above the 5,104 mark. However, the reason for its upward trend can be attributed to the optimism surrounding the US economy and upbeat inflation data. It should be noted that the Federal Reserve's preferred inflation gauge, the Personal Consumption Expenditures (PCE) index, came in as expected, showing a modest increase of 0.4% in January. Meanwhile, the core PCE, which excludes volatile food and energy prices, grew by 2.8% year-over-year, matching market expectations. Therefore, these figures showed that inflation was slowing down, which could lead to the Federal Reserve cutting interest rates in the future to boost economic growth.
Moreover, the US economy remained strong, as both the Dow Jones Industrial Average and S&P 500 had their best two-month start since 2019. This, along with positive corporate earnings, boosted investor confidence and pushed the S&P 500 to reach new highs.
Federal Reserve's Interest Rate Cut Stance and US Economic Data
On the US front, the Federal Reserve's stance on interest rates and US economic data played a major role in boosting the performance of the S&P 500. Notably, the release of the PCE inflation data had been anxiously anticipated by investors throughout the week. However, the released figures indicated that the Federal Reserve might consider rate cuts later in the year to support economic growth. This prospect boosted investor sentiment and contributed to the upward trend of the S&P 500.
On the flip side, Federal Reserve officials like Raphael Bostic and John Williams reiterated their readiness to cut interest rates if needed. This boosted market confidence in potential rate cuts, pushing the S&P 500 higher.
Geopolitical Tensions and Their Impact on S&P 500
Despite geopolitical tensions, including the ongoing conflict between Israel and Gaza, the S&P 500 maintained its upward momentum. However, geopolitical unrest, such as the Israel-Gaza conflict, typically introduces uncertainty into financial markets. Nevertheless, the S&P 500 remained strong as Investors focused primarily on domestic economic indicators and Federal Reserve policies, which overshadowed geopolitical concerns in the short term.
S&P500 (SPX) - Technical Analysis
In today's technical outlook for the S&P500 (SPX) on March 1st, the index demonstrates a notable upward movement, currently standing at $5096.28, marking an increase of 0.52% over the past 24 hours. Analyzing the market through a 4-hour chart timeframe provides traders with valuable insights into short-term price dynamics, aiding in strategic decision-making.
Key price levels have been identified, with the pivotal point situated at $5081.06, serving as a critical level for potential reversals or continuations of the current trend. Notable resistance levels are observed at $5110.04, $5133.95, and $5154.05, indicating areas where price action may encounter obstacles. Conversely, significant support levels are identified at $5058.09, $5032.45, and $5004.14, signifying potential levels of market demand.
Technical indicators offer further guidance to traders, with the Relative Strength Index (RSI) currently at 64, suggesting a bullish momentum in the market. Additionally, the 50-day Exponential Moving Average (EMA) at $4987.05 acts as a dynamic level of support, reinforcing the prevailing uptrend.
Considering these factors holistically, the overall trend for the S&P500 leans towards bullish territory. Traders may find potential opportunities to initiate long positions above the entry price of $5070, with a target take-profit level set at $5130. To mitigate risk effectively, a stop-loss order could be placed at $5045, enabling traders to manage potential losses in the event of adverse price movements.
S&P500 (SPX) Price Analysis and Trade Forecast: Daily Trading Signal
Daily Outlook
In today's technical outlook for the S&P500 (SPX) on March 1st, the index demonstrates a notable upward movement, currently standing at $5096.28, marking an increase of 0.52% over the past 24 hours. Analyzing the market through a 4-hour chart timeframe provides traders with valuable insights into short-term price dynamics, aiding in strategic decision-making.
Key price levels have been identified, with the pivotal point situated at $5081.06, serving as a critical level for potential reversals or continuations of the current trend. Notable resistance levels are observed at $5110.04, $5133.95, and $5154.05, indicating areas where price action may encounter obstacles. Conversely, significant support levels are identified at $5058.09, $5032.45, and $5004.14, signifying potential levels of market demand.
Technical indicators offer further guidance to traders, with the Relative Strength Index (RSI) currently at 64, suggesting a bullish momentum in the market. Additionally, the 50-day Exponential Moving Average (EMA) at $4987.05 acts as a dynamic level of support, reinforcing the prevailing uptrend.
Considering these factors holistically, the overall trend for the S&P500 leans towards bullish territory. Traders may find potential opportunities to initiate long positions above the entry price of $5070, with a target take-profit level set at $5130. To mitigate risk effectively, a stop-loss order could be placed at $5045, enabling traders to manage potential losses in the event of adverse price movements.
S&P 500 - Trade Ideas
Entry Price – Buy Above 5070
Take Profit – 5130
Stop Loss – 5045
Risk to Reward – 1: 2.4
Profit & Loss Per Standard Lot = +$600/ -$250
Profit & Loss Per Mini Lot = +$60/ -$25
S&P500 (SPX) Price Analysis – Feb 23, 2024
Daily Price Outlook
The global market sentiment has been on the bullish track and still flashing green on the day. This can be witnessed by the bullish performance of S&P 500 index, which tracks the performance of 500 large-cap U.S. stocks. It maintained its previous upward trend and surged to new highs on Friday, driven by strong earnings from chip giant Nvidia. However, the index gained 2.11% to close at 5,087.03, marking its best day since January 2023.
On the fundamental side, the upward momentum in the S&P 500 index was mainly backed by the Federal Reserve's hawkish outlook as the hawkish Fed signals confidence in economic strength, reassuring investors. Meanwhile, geopolitical tensions highlight the potential risks to the market. Investors will continue to monitor economic data and geopolitical developments for clues about the future direction of the market.
Federal Reserve's Hawkish Outlook and U.S. Economic Data
On the US front, the Federal Reserve's hawkish outlook and recent U.S. economic data have been closely watched by investors. It should be noted that the minutes from the latest FOMC meeting indicated uncertainty about the duration of current interest rates to combat inflation. Fed Vice Chair Philip Jefferson suggested a possible rate cut later in the year.
Meanwhile, Philadelphia Federal Reserve President Harker believes there is a possibility of rate cuts later on but is cautious about implementing them too soon due to concerns about inflation. At the same time, Federal Reserve Governor Cook thinks it is premature to lower rates because there is uncertainty about inflation trends. On the other hand, Governor Waller advises waiting to see how inflation progresses.
Therefore, the S&P 500 is rising in response to the hawkish outlook from the Federal Reserve, likely because investors perceive this stance as a sign of confidence in the economy's strength and prospects. This confidence could be bolstering equities as investors anticipate continued economic growth despite potential interest rate increases to combat inflation.
Geopolitical Issues and Their Impact on the S&P 500
On the geopolitical front, the ongoing conflict between Israel and Gaza has added to market uncertainty. Israeli airstrikes on Gaza's Rafah and attacks by Yemen's Houthis on ships in the Red Sea have raised fears of a wider conflict in the Middle East. Meanwhile, the humanitarian crisis in Gaza, with reports of civilian casualties and damage to infrastructure, has prompted calls for intervention from the international community. The United Nations Relief and Works Agency (UNRWA) has stated that it is at a "breaking point" due to the freezing of funds by Western donors, exacerbating an already dire humanitarian situation.
Therefore, the long-lasting geopolitical tensions, particularly in the Middle East, increase market uncertainty, leading to a cautious approach among investors and impacting the S&P 500's performance.
S&P500 (SPX) - Technical Analysis
The S&P 500 index demonstrated robust performance on February 23, with a noteworthy surge of 2.11%, closing at 5087.02. This uptrend highlights the market's buoyant risk appetite and is potentially reflective of favorable corporate earnings or economic data surpassing investor expectations.
The index's pivot point stands at 4989.23, a critical juncture that demarcates the transition between bullish and bearish domains. As the index pushes forward, it faces immediate resistance at 5061.11, with further hurdles at 5122.34 and 5191.56. These levels are key markers that could either cap the rally or, if surpassed, may signal a stronger bullish momentum. On the descent, immediate support lies at 4933.33, followed by subsequent support levels at 4864.11 and 4805.54, which are crucial for maintaining the current uptrend.
The Relative Strength Index (RSI) stands at 67, edging closer to overbought territory but still indicative of a strong bullish sentiment within the market. The Moving Average Convergence Divergence (MACD) reading of 2.29000 significantly below the signal line of 26.66 may suggest that despite recent gains, caution is warranted as momentum could be waning.
The current technical outlook for the S&P 500 is predominantly bullish, but with an undercurrent of caution as indicated by the MACD. Investors may consider a buy limit order at 5076, with an objective to take profits at 5127, and a stop loss at 5045, crafting a strategy that seeks to capitalize on the prevailing upward trend while safeguarding against a potential reversal.
S&P500 (SPX) Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
The S&P 500 index demonstrated robust performance on February 23, with a noteworthy surge of 2.11%, closing at 5087.02. This uptrend highlights the market's buoyant risk appetite and is potentially reflective of favorable corporate earnings or economic data surpassing investor expectations.
The index's pivot point stands at 4989.23, a critical juncture that demarcates the transition between bullish and bearish domains. As the index pushes forward, it faces immediate resistance at 5061.11, with further hurdles at 5122.34 and 5191.56. These levels are key markers that could either cap the rally or, if surpassed, may signal a stronger bullish momentum. On the descent, immediate support lies at 4933.33, followed by subsequent support levels at 4864.11 and 4805.54, which are crucial for maintaining the current uptrend.
The Relative Strength Index (RSI) stands at 67, edging closer to overbought territory but still indicative of a strong bullish sentiment within the market. The Moving Average Convergence Divergence (MACD) reading of 2.29000 significantly below the signal line of 26.66 may suggest that despite recent gains, caution is warranted as momentum could be waning.
The current technical outlook for the S&P 500 is predominantly bullish, but with an undercurrent of caution as indicated by the MACD. Investors may consider a buy limit order at 5076, with an objective to take profits at 5127, and a stop loss at 5045, crafting a strategy that seeks to capitalize on the prevailing upward trend while safeguarding against a potential reversal.
S&P 500 - Trade Ideas
Entry Price – Buy Limit 5076
Take Profit – 5127
Stop Loss – 5045
Risk to Reward – 1: 1.65
Profit & Loss Per Standard Lot = +$510/ -$310
Profit & Loss Per Mini Lot = +$51/ -$31
S&P500 Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
The S&P 500's trajectory paints a promising picture for investors, as it concluded the latest session on an upbeat note at 5029.72, marking a 0.58% increase. This performance underlines the index's resilience and its capacity to navigate through varying market conditions. Positioned comfortably above the pivot point at 5001.51, the S&P 500 showcases a robust technical setup poised for potential gains. Immediate resistance levels are mapped out at 5046.96, 5071.52, and 5096.77, each representing a hurdle that bulls must overcome to sustain upward momentum. On the flip side, support levels at 4969.53, 4930.75, and 4899.45 delineate zones where buyers could re-emerge, offering a safety net against potential pullbacks.
The Relative Strength Index (RSI) standing at 64 signals a market leaning towards overbought territory but still within bounds for further growth, suggesting an underlying strength in the current rally. The 50-day Exponential Moving Average (EMA) at 4898.91 further bolsters this bullish outlook, providing a solid foundation below the current market price.
Given the confluence of these indicators, the S&P 500's outlook remains decisively bullish, especially if it can sustain movement above the strategic entry point of 5016. This level serves as a gateway for targeting a take profit at 5072, with a stop loss judiciously set at 4980 to mitigate risks. This strategic positioning underscores a calculated optimism, encouraging investors to capitalize on the index's positive momentum while remaining vigilant of the inherent market volatilities.
SPX - Trade Ideas
Entry Price – Buy Above 5016
Take Profit – 5072
Stop Loss – 4980
Risk to Reward – 1: 1.5
Profit & Loss Per Standard Lot = +$560/ -$360
Profit & Loss Per Mini Lot = +$56/ -$36
S&P500 (SPX) Price Analysis – Feb 16, 2024
Daily Price Outlook
The S&P 500 index maintained its rising trend and hit a new record high of 5,029 marks. Investors have been navigating various factors, including economic data, Federal Reserve policy, geopolitical tensions, and upcoming events, influencing the index's performance. The S&P 500 closed at a fresh record high, reflecting the overall bullish sentiment in the market. Despite some volatility earlier in the week, the index has maintained its upward momentum, indicating confidence among investors.
Federal Reserve Stance and US Data Impact
The S&P 500's performance is heavily influenced by the Federal Reserve's monetary policy stance and recent US economic data. Investors are paying close attention to both as they gauge the direction of the market. The disappointing US Retail Sales data from earlier has led many to believe that the Federal Reserve might consider cutting rates sooner rather than later. This has given investors more confidence, leading to positive movements in the S&P 500. Atlanta Fed President Bostic's comments about potential rate cuts have also played a role in shaping market sentiment and impacting the index's movements.
Geopolitical Tensions and Their Impact
Apart from this, geopolitical tensions, such as the ongoing conflict between Israel and Gaza, have also impacted the S&P 500. Israel's attack into Khan Younis' Nasser Hospital and the resulting casualties have added uncertainty to the market. Investors are closely monitoring developments in the Middle East, as any escalation in tensions could have broader implications for market sentiment and investor confidence. The uncertainty surrounding geopolitical issues highlights the need for caution among investors navigating the S&P 500.
Upcoming Data and Speeches
Looking ahead, upcoming economic data releases and speeches from Federal Reserve officials will continue to drive sentiment around the S&P 500. Investors are eagerly awaiting the release of the Producer Price Index, Housing Starts, and the Preliminary Michigan Consumer Sentiment Index for further insights into the state of the economy.
Besides this, the speeches by influential FOMC members will provide valuable clues about the Fed's future policy decisions and their potential impact on the S&P 500.
S&P500 (SPX) - Technical Analysis
The S&P 500's trajectory paints a promising picture for investors, as it concluded the latest session on an upbeat note at 5029.72, marking a 0.58% increase. This performance underlines the index's resilience and its capacity to navigate through varying market conditions.
Positioned comfortably above the pivot point at 5001.51, the S&P 500 showcases a robust technical setup poised for potential gains. Immediate resistance levels are mapped out at 5046.96, 5071.52, and 5096.77, each representing a hurdle that bulls must overcome to sustain upward momentum. On the flip side, support levels at 4969.53, 4930.75, and 4899.45 delineate zones where buyers could re-emerge, offering a safety net against potential pullbacks.
The Relative Strength Index (RSI) standing at 64 signals a market leaning towards overbought territory but still within bounds for further growth, suggesting an underlying strength in the current rally. The 50-day Exponential Moving Average (EMA) at 4898.91 further bolsters this bullish outlook, providing a solid foundation below the current market price.
Given the confluence of these indicators, the S&P 500's outlook remains decisively bullish, especially if it can sustain movement above the strategic entry point of 5016. This level serves as a gateway for targeting a take profit at 5072, with a stop loss judiciously set at 4980 to mitigate risks. This strategic positioning underscores a calculated optimism, encouraging investors to capitalize on the index's positive momentum while remaining vigilant of the inherent market volatilities.
S&P500 (SPX) Price Analysis – Feb 09, 2024
Daily Price Outlook
The global market sentiment maintained its upward trend and is still flashing green on the day. This can be witnessed by the strong performance of the S&P 500 index, which crossed a significant milestone as it surged the historic 5,000 mark. However, this upward trend underscores the strength of the market, driven by several factors including a robust earnings season, easing inflation data, and a resilient economy. Despite facing challenges, the S&P 500 has managed to climb steadily, reflecting investors' confidence in the market's long-term prospects.
Federal Reserve's Impact on S&P 500 Trajectory
The Federal Reserve, the central bank of the United States, has a major impact on the S&P 500 and other financial markets. Recently, top Fed officials like Jerome Powell and Thomas Barkin have been careful about making changes to interest rates, even though the economy is doing well. Powell has been saying that they need to be cautious and won't be cutting rates right away. This has made investors less worried and caused bond yields to go up, like the 10-year Treasury yield hitting a two-week high of 4.169%. Investors closely follow the Fed's statements because they can influence market sentiment and perceptions of the value of stocks in the S&P 500.
Geopolitical Concerns Impacting Stock Market Stability
The global stock market is doing really well, but there are some worries about conflicts happening between Israel and Hamas. The recent conflict between Israel and Hamas has raised concerns about the humanitarian situation and regional stability. The US has cautioned Israel against making significant military actions without careful planning. Such geopolitical tensions can unsettle the market as investors become nervous.
S&P500 (SPX) - Technical Analysis
The S&P 500 Index continues to flirt with the precipice of bullish momentum, evidenced by a modest uptick of 0.06%, placing the market valuation at $4,997.92. A closer examination of the four-hour chart reveals a pivot point at $4,926.25, a crucial fulcrum around which trading strategies might pivot.
Immediate resistance presents itself at $5,005.83, challenging traders to break through to confirm continued bullish intent. Further resistance benchmarks are found at $5,053.58 and an ambitious $5,137.14, levels that may either cap the rally or, if surpassed, signal a new leg of bullish fervor.
Conversely, the support mechanism activates at $4,878.50, with additional safety nets at $4,794.95 and $4,747.20, which stand ready to absorb any bearish blows.
The Relative Strength Index (RSI), currently at a relatively high 70, suggests that the market is approaching overbought territory, yet there is no immediate indication of a reversal. The MACD's current value at 3.41, versus its signal at 41.06, presents a mixed narrative, hinting at a potential plateau in momentum.
The 50-day Exponential Moving Average (EMA) precisely aligns with the current market price at $4,997.92, reinforcing the index's strength at these levels.
A notable chart pattern is the index's closure above the significant $4,985 level. This development near the all-time high underscores the market's robust appetite for risk and sets the stage for potential acquisition trends.
In summary, the S&P 500's technical outlook suggests a strong buy signal above the $4,986 mark, targeting profits at $5,040 with a safety net stop loss placed at $4,950. This bullish outlook is predicated on the market maintaining its current trajectory and breaking past immediate resistance levels with conviction.
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S&P500 (SPX) Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- S&P 500 exhibits slight growth, with pivot point analysis indicating a bullish inclination.
- RSI near overbought territory and MACD show mixed signals, but the closure above $4,985 suggests strong buying potential.
- Technical indicators support a buy above $4,986, targeting $5,040, and recommend a stop loss at $4,950 to safeguard against reversals.
The S&P 500 Index continues to flirt with the precipice of bullish momentum, evidenced by a modest uptick of 0.06%, placing the market valuation at $4,997.92. A closer examination of the four-hour chart reveals a pivot point at $4,926.25, a crucial fulcrum around which trading strategies might pivot.
Immediate resistance presents itself at $5,005.83, challenging traders to break through to confirm continued bullish intent. Further resistance benchmarks are found at $5,053.58 and an ambitious $5,137.14, levels that may either cap the rally or, if surpassed, signal a new leg of bullish fervor.
Conversely, the support mechanism activates at $4,878.50, with additional safety nets at $4,794.95 and $4,747.20, which stand ready to absorb any bearish blows.
The Relative Strength Index (RSI), currently at a relatively high 70, suggests that the market is approaching overbought territory, yet there is no immediate indication of a reversal. The MACD's current value at 3.41, versus its signal at 41.06, presents a mixed narrative, hinting at a potential plateau in momentum.
The 50-day Exponential Moving Average (EMA) precisely aligns with the current market price at $4,997.92, reinforcing the index's strength at these levels.
A notable chart pattern is the index's closure above the significant $4,985 level. This development near the all-time high underscores the market's robust appetite for risk and sets the stage for potential acquisition trends.
In summary, the S&P 500's technical outlook suggests a strong buy signal above the $4,986 mark, targeting profits at $5,040 with a safety net stop loss placed at $4,950. This bullish outlook is predicated on the market maintaining its current trajectory and breaking past immediate resistance levels with conviction.
S&P500 (SPX) - Trade Ideas
Entry Price – Buy Above 4986
Take Profit – 5040
Stop Loss – 4950
Risk to Reward – 1: 1.5
Profit & Loss Per Standard Lot = +$5400/ -$3600
Profit & Loss Per Mini Lot = +$540/ -$360
S&P500 (SPX) Price Analysis – Feb 02, 2024
Daily Price Outlook
The global market sentiment has maintained an upward trend, still flashing green as the S&P 500 showed strength in its recent performance, bouncing back from a prior sell-off. On Friday, the index gained 1.25%, closing at 4,906.19, with the Dow Jones Industrial Average reaching a fresh record close of 38,519.84. However, the market rebounded after a dip triggered by Federal Reserve Chair Jerome Powell's post-meeting comments, where he downplayed expectations for a rate cut in March. Although this positive momentum in the S&P 500 was supported by strong earnings reports from key players like Apple, Amazon, and Meta. Therefore, the overall outlook remains optimistic.
Federal Reserve's Decision and Powell's Stance Impact on S&P 500:
The Federal Reserve's decision to maintain interest rates, coupled with Powell's cautious stance on rate cuts, initially led to a drop in equities. However, the decline was short-lived as positive factors, such as reports of a potential ceasefire between Israel and Hamas in the market and strong earnings reports from key players like Apple, Amazon, and Meta, helped equities regain traction. Therefore, the overall market sentiment remained relatively positive.
Powell mentioned that interest rates had peaked and could move lower in the coming months, but downplayed the probability of a March cut. However, this tempered market expectations and influenced investor confidence. Although bond yields also saw a decline, with the 10-year Treasury reaching a one-month low. Therefore, the market will closely monitor the upcoming jobs report for further insights into economic conditions.
Consequently, the Federal Reserve's decision to hold interest rates, along with Powell's cautious tone on rate cuts, initially caused a dip in equities, impacting the S&P 500. The market awaits the jobs report for additional economic insights.
Geopolitical Developments and S&P 500 Resilience
At the geopolitical front, reports of a potential ceasefire between Israel and Hamas were seen as another key factor that helped the S&P 500 stay positive. However, incidents like Houthi rebels claiming to strike a US merchant ship and US airstrikes in Yemen introduced some uncertainties in the market. Although geopolitical tensions usually impact market sentiment, the S&P 500 showcased resilience.
S&P500 (SPX) - Technical Analysis
The S&P 500 index today showcases a robust uptick, advancing by 1.25% to stand at 4906.18. This movement reflects a buoyant sentiment in the market, as indicated by the 4-hour chart analysis. The pivot point for today's session is identified at 4878.93, serving as a crucial juncture for short-term directional bias. Resistance levels are closely set at 4905.57, 4923.55, and an upper boundary at 4954.06, outlining potential targets for the bulls. Conversely, support levels are established at 4848.03, 4822.98, and 4797.40, offering a safety net against pullbacks.
The Relative Strength Index (RSI) at 60 signals a bullish momentum without veering into overextended territory. The 50-day Exponential Moving Average (EMA), positioned at 4803.14, underscores a solid uptrend foundation, further validating the index's strength.
Notably, the S&P 500 has completed a 38.2% Fibonacci retracement level around 4847, indicating a favorable zone for buyers. This level has become a springboard, suggesting potential for further ascension.
The technical landscape for the S&P 500 is decisively bullish, with a recommended entry point for long positions above 4880. Targets for taking profit are advised at 4930, while a stop loss should be considered at 4840 to mitigate potential downside risks.
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S&P500 (SPX) Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- S&P 500 rises 1.25% to 4906.18, with bullish signals from RSI at 60 and support from the 50-day EMA at 4803.14.
- Key levels to watch include immediate resistance at 4905.57 and support at 4848.03, pivotal for short-term movements.
- Technical indicators and Fibonacci retracement suggest buying strength above 4880, targeting gains towards 4930.
The S&P 500 index today showcases a robust uptick, advancing by 1.25% to stand at 4906.18. This movement reflects a buoyant sentiment in the market, as indicated by the 4-hour chart analysis. The pivot point for today's session is identified at 4878.93, serving as a crucial juncture for short-term directional bias. Resistance levels are closely set at 4905.57, 4923.55, and an upper boundary at 4954.06, outlining potential targets for the bulls. Conversely, support levels are established at 4848.03, 4822.98, and 4797.40, offering a safety net against pullbacks.
The Relative Strength Index (RSI) at 60 signals a bullish momentum without veering into overextended territory. The 50-day Exponential Moving Average (EMA), positioned at 4803.14, underscores a solid uptrend foundation, further validating the index's strength.
Notably, the S&P 500 has completed a 38.2% Fibonacci retracement level around 4847, indicating a favorable zone for buyers. This level has become a springboard, suggesting potential for further ascension.
The technical landscape for the S&P 500 is decisively bullish, with a recommended entry point for long positions above 4880. Targets for taking profit are advised at 4930, while a stop loss should be considered at 4840 to mitigate potential downside risks.
S&P500 (SPX) - Trade Ideas
Entry Price – Buy Above 4880
Take Profit – 4930
Stop Loss – 4840
Risk to Reward – 1: 1.18
Profit & Loss Per Standard Lot = +$500/ -$400
Profit & Loss Per Mini Lot = +$50/ -$40