S&P 500

SPX 4,100 Barrier - Next Draw Down Sets up a Better Trade

Technical Analysis
213 Views, 15 May 2022 08:30
EXECUTIVE SUMMARY
  • The US equity decline still lacks real capitulation/outflows/redemptions for a major low but the next leg down does offer a better tactical long entry point.
  • RSI near 25 is the ideal buy zone for the SPX (this week or into late May). The weekly cycle has yet to show a convincing bottom.
  • NDX 12,700 is rejection resistance to induce a slide closer to 11,000 higher degree support for a better tradable rally sequence. RTY bull near 1,650.
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Thomas Schroeder
Chart based progressive global trading strategies
Chart Partners
Multi-AssetTechnical Analysis

Mr. Schroeder starting using charts and trading in the FX markets in 1989 and entered the equities arena in 1992 with De... 

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