The Daily View for S&P 500
- Currently, SPX’s price is down -70.18 (-1.61%) from the day prior.
- This move is a reversal from the day prior, which saw price move up.
- If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 20 day timeframe.
- The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
- Divergence between SPX’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in SPX’s price.
Below is a daily price chart of S&P 500.
Featured S&P 500 Idea From TradingView
Below is a trading comment entitled USD CHF – Made a move from the Daily imbalance you may find interesting:
This is a late upload for public view – private trade released below for further info. https://www.tradingview.com/chart/USDCHF/YIViHcce-USD-CHF-Sell-breakdown/ Hello Traders and Analysts, Breakdown: 1. Note2. Contents3. Research breakdown4. Education recap5. Information on Lupa.A Note before reading – this is a forecast analysis – based upon our trading strategy. This is tagged Long, due to purchasing further increments upon imbalances.Please do not take this as face value and conduct the relevant investment strategy to successfully trade the probabilities. Master Key for zones Red = Three Month Blue = Monthly Purple = weekly Scarlet – Four day Orange = Daily Green = 8 Hour, 16hour Grey = 4hour Pink = 1 hour Daily Chart The Daily is reacting to a highly pivotal level. Based on probability, the high chance of this rejecting is clear. https://www.tradingview.com/x/PfpZj5Lt/ Refer to the 8-hour chart to the rising wedge pattern formation which is key to understand where price will look to ‘tail off’ at the imbalance, where a change of hands will occur.The Weekly chart shows us two things to focus on here.Chart 1 – shows the clear lower lows being made since the high – April 2019.Since here, price has shown critical resistance low formations taken on 16th March 2020. Price then travelled and retested the latest im…