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9/2/24
Price: 5648.39
Analysis:
Trend Analysis:
, Trend broke resistance @5629.61 ending bullish 30 Aug 24.
historical data shows sustainable bullish trend
current trend bullish energy getting stronger throughout trend
Macd @ the 50/50 crossing area (inclined) w strong momentum
Structure:
Strong bullish energy getting stronger instead of fading.
structure stable enough to continue incline from analyzing historical data
Support & Resistance Levels:
Support: 5629.61, 5648.39, 5616.24
Resistance: 5668.64, 5658.15, 5683.48
Crossovers & Moving Averages:
Risk Management:
bullish volatility has enough time management for 0.64% movement but not 2.5% to SEIIV SPX target by friday
bears volatility has enough time management for 0.64% movement, and 2.5% SEIIV SPX target by friday
News & Events:
Market bullish spx up 1.01% end of Aug 2024 out of our bullish signal coming in at 0.70%, bearish signal @ 0.24%
5 day performance is 0.24%, 1 month performance is 5.65%
market inclined a total 3.3% since jul 1st, 24, market inclined a total 9.21% since 1 Aug, 24
Scenario Analysis:
market has potential to retrace back to 5620 area = (-0.52%) retracement,
Market has potential to continue inclinging around 0.64% @5670 (just under last month high) /5680 area where bulls will see new high, then a retracement maybe
Retracement expected to be 35% - 40% support area @5637.43, and 5629.71
May see stagflation (W) price-action potential opportunity
(Week 2 of sep)
may see close to 2.00% Incline or decline after retracement (expect incline)
Objective & Targets:
follow incline by 0.64% prepare for possible retracement thereafter.
YOLO:
Entry Point: 5640.31
Exit Point: 5680
Today's rule:
5649.11 will act as our main price action pivot point when we convert to these operations
(3 Sept 2024)
Sept 3, 24. Market took the retrace route to 5620 area and ended in a bullish state.
we can expect for stocks to continue bullish so selling higher highs and lower low's
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