75 replies to this topic

[redfoliage2]

Now SPX has got above the 3970 resistance, and so ST I'd expect some more upside to go, though likely to be limited ........................

Edited by redfoliage2, 23 January 2023 - 10:01 AM.

[redfoliage2]

It's likely that the Dec high at SPX 4100 to be tested this week ................

Edited by redfoliage2, 24 January 2023 - 10:39 AM.

[redfoliage2]

It looks that MSFT ruined the party.  Now ST support at SPX 3938, let's see if it will contain the selling...................

Edited by redfoliage2, 25 January 2023 - 10:32 AM.

[redfoliage2]

It looks that the SPX 200 ma at 3961 is trying to hold though it was broken earlier today.  If 3961 holds today bulls still got a chance ......................

Edited by redfoliage2, 25 January 2023 - 11:04 AM.

[redfoliage2]

It's likely that the Dec high at SPX 4100 to be tested this week ................

https://www.marketwa...ary-11674766251

[redfoliage2]

ST it's likely to see a back test on the down trend line at SPX 4030 ..........................

Edited by redfoliage2, 27 January 2023 - 09:20 AM.

[redfoliage2]

Now we have got near the SPX 4100 target (today's high was 4080).  At this juncture we need to see a successful back-test to confirm the breakout.  Without a confirmation I see this as a very risky point to go long, especially before the Fed meeting  ............................

Edited by redfoliage2, 27 January 2023 - 01:54 PM.

[redfoliage2]

Now we have got near the SPX 4100 target (today's high was 4080).  At this juncture we need to see a successful back-test to confirm the breakout.  Without a confirmation I see this as a very risky point to go long, especially before the Fed meeting  ............................

 

The high of day was actually 4094.21, just a few points to the target ...........................

[redfoliage2]

Back testing in process.  Whether or not it's going to be a good test depends on what the Fed will say on Wed.  I see the Fed is more likely to remain hawkish  .................... 

Edited by redfoliage2, 30 January 2023 - 10:01 AM.

[redfoliage2]

It looks that SPX 4030 not going to hold and next ST support at SPX 4000  ....................

Edited by redfoliage2, 30 January 2023 - 02:23 PM.