S&P500 Weekly Chart Analysis - Will it go against logic?

Asphen

2023-11-25

S&P500 Weekly Chart - Bull Flag

Bull Flag Retracement (See Chart 1)

- Bull Flag from 13 Mar, recent pullback was to Fibonacci 61.8

Bear Flag Retracement (See Chart 2)

- Bear Flag since 3 Mar 2023, current price action has retraced to Fibonacci 78.6 (even breaking above it past week)

S&P500 Weekly Chart - Bear flag

What does it mean?

- A support at 61.8 for bull flag does show a somewhat bullish outcome given the strength it bounce off

- A prolonged stay above Fib 61.8 on the bear flag) and now even going above Fib 78.6 does point to a good chance of full reversal, meaning going back to the same ATH as 3 Mar 2023

Will we get there?

- I'm still leaning we will get there, albeit, there could be a good pullback to SPY 437

@CaptainTiger @macroB @melson @TigerStars @Deposit @LMSunshine

💰 Stocks to watch today?(25 Nov)

1. What news/movements are worth noting in the market today? Any stocks to watch? 2. What trading opportunities are there? Do you have any plans? 🎁 Make a post here, everyone stands a chance to win Tiger coins!

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

melson
2023-11-25
melson
market makers decide
- Asphen:
  yes for sure.
Aqa
2023-11-27
Aqa
Liked and shared. 👍🏻
- Asphen:
  thank you

Leave a comment

{"i18n":{"language":"en_US"},"detailType":1,"isChannel":false,"data":{"magic":2,"id":245275813404864,"tweetId":"245275813404864","gmtCreate":1700905701682,"gmtModify":1700905711714,"author":{"id":3576339097425722,"idStr":"3576339097425722","authorId":3576339097425722,"authorIdStr":"3576339097425722","name":"Asphen","avatar":"https://community-static.tradeup.com/news/55ff1b64b2787933c17d863ecae83f09","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":8,"crmLevelSwitch":1,"currentWearingBadge":{"badgeId":"1f541396f99840fb977d0ab0ce343c94-1","templateUuid":"1f541396f99840fb977d0ab0ce343c94","name":"Weekly Top Contributor","description":"Contributors with best Editor's Picks every week","bigImgUrl":"https://static.tigerbbs.com/271475ceaf67d40016c8cfa16c08c8b3","smallImgUrl":"https://static.tigerbbs.com/5a6336061b9ba82ba9177c7ec476f5f2","redirectLinkEnabled":1,"redirectLink":"https://ttm.financial/TW/9000980585","hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":2,"allocatedDate":"2022.08.08","individualDisplayEnabled":0},"individualDisplayBadges":[],"fanSize":2545,"starInvestorFlag":false},"themes":[{"themeId":"470d3ab575ca43caaed8156645b7ccbe","categoryId":"ab3d937a5fd848c08008411a9be702b5","name":"💰 Stocks to watch today?(25 Nov)","type":0,"rnLink":"https://laohu8.com/RN?name=RNTheme&page=/theme/detail&rndata={\"themeId\":470d3ab575ca43caaed8156645b7ccbe}&rnconfig={\"headerBarHidden\": true}","description":"1. What news/movements are worth noting in the market today? Any stocks to watch? \n2. What trading opportunities are there? Do you have any plans?\n🎁 Make a post here, everyone stands a chance to win Tiger coins!","image":"https://static.tigerbbs.com/cd8eaff2e99964ab7a80d92cc196fcd3"}],"images":[{"img":"https://community-static.tradeup.com/news/4aa585644ff7306794ac2034bbc4c877","width":"1280","height":"674"},{"img":"https://community-static.tradeup.com/news/2548a332c365ead6cd14b3aa4d82b7a8","width":"1280","height":"677"}],"coverImages":[{"img":"https://community-static.tradeup.com/news/4aa585644ff7306794ac2034bbc4c877","width":"1280","height":"674"}],"title":"S&P500 Weekly Chart Analysis - Will it go against logic?","html":"<html><head></head><body><img src=\"https://community-static.tradeup.com/news/4aa585644ff7306794ac2034bbc4c877\" tg-width=\"1280\" tg-height=\"674\">S&amp;P500 Weekly Chart - Bull Flag\n<h3>Bull Flag Retracement (See Chart 1)</h3>\n- Bull Flag from 13 Mar, recent pullback was to Fibonacci 61.8&nbsp;\n \n<h3>Bear Flag Retracement (See Chart 2)</h3>\n- Bear Flag since 3 Mar 2023, current price action has retraced to Fibonacci 78.6 (even breaking above it past week)\n \n<img src=\"https://community-static.tradeup.com/news/2548a332c365ead6cd14b3aa4d82b7a8\" tg-width=\"1280\" tg-height=\"677\">S&amp;P500 Weekly Chart - Bear flag\n<h3>What does it mean?</h3>\n \n- A support at 61.8 for bull flag does show a somewhat bullish outcome given the strength it bounce off\n \n- A prolonged stay above Fib 61.8 on the bear flag) and now even going above Fib 78.6 does point to a good chance of full reversal, meaning going back to the same ATH as 3 Mar 2023\n \n<h3>Will we get there?</h3>\n \n- I'm still leaning we will get there, albeit, there could be a good pullback to SPY 437\n \n<a href=\"https://ttm.financial/U/3527667618000160\">@CaptainTiger &nbsp;</a><a href=\"https://ttm.financial/U/3560858852313727\">@macroB &nbsp;</a><a href=\"https://ttm.financial/U/4123471905369072\">@melson &nbsp;</a><a href=\"https://ttm.financial/U/9000000000000149\">@TigerStars &nbsp;</a><a href=\"https://ttm.financial/U/3577700186071729\">@Deposit &nbsp;</a><a href=\"https://ttm.financial/U/4113904591642392\">@LMSunshine &nbsp;</a></body></html>","htmlText":"<html><head></head><body><img src=\"https://community-static.tradeup.com/news/4aa585644ff7306794ac2034bbc4c877\" tg-width=\"1280\" tg-height=\"674\">S&amp;P500 Weekly Chart - Bull Flag\n<h3>Bull Flag Retracement (See Chart 1)</h3>\n- Bull Flag from 13 Mar, recent pullback was to Fibonacci 61.8&nbsp;\n \n<h3>Bear Flag Retracement (See Chart 2)</h3>\n- Bear Flag since 3 Mar 2023, current price action has retraced to Fibonacci 78.6 (even breaking above it past week)\n \n<img src=\"https://community-static.tradeup.com/news/2548a332c365ead6cd14b3aa4d82b7a8\" tg-width=\"1280\" tg-height=\"677\">S&amp;P500 Weekly Chart - Bear flag\n<h3>What does it mean?</h3>\n \n- A support at 61.8 for bull flag does show a somewhat bullish outcome given the strength it bounce off\n \n- A prolonged stay above Fib 61.8 on the bear flag) and now even going above Fib 78.6 does point to a good chance of full reversal, meaning going back to the same ATH as 3 Mar 2023\n \n<h3>Will we get there?</h3>\n \n- I'm still leaning we will get there, albeit, there could be a good pullback to SPY 437\n \n<a href=\"https://ttm.financial/U/3527667618000160\">@CaptainTiger &nbsp;</a><a href=\"https://ttm.financial/U/3560858852313727\">@macroB &nbsp;</a><a href=\"https://ttm.financial/U/4123471905369072\">@melson &nbsp;</a><a href=\"https://ttm.financial/U/9000000000000149\">@TigerStars &nbsp;</a><a href=\"https://ttm.financial/U/3577700186071729\">@Deposit &nbsp;</a><a href=\"https://ttm.financial/U/4113904591642392\">@LMSunshine &nbsp;</a></body></html>","text":"S&P500 Weekly Chart - Bull Flag Bull Flag Retracement (See Chart 1) - Bull Flag from 13 Mar, recent pullback was to Fibonacci 61.8 Bear Flag Retracement (See Chart 2) - Bear Flag since 3 Mar 2023, current price action has retraced to Fibonacci 78.6 (even breaking above it past week) S&P500 Weekly Chart - Bear flag What does it mean? - A support at 61.8 for bull flag does show a somewhat bullish outcome given the strength it bounce off - A prolonged stay above Fib 61.8 on the bear flag) and now even going above Fib 78.6 does point to a good chance of full reversal, meaning going back to the same ATH as 3 Mar 2023 Will we get there? - I'm still leaning we will get there, albeit, there could be a good pullback to SPY 437 @CaptainTiger @macroB @melson @TigerStars @Deposit @LMSunshine","highlighted":1,"essential":2,"paper":2,"likeSize":11,"commentSize":4,"repostSize":5,"favoriteSize":0,"link":"https://ttm.financial/post/245275813404864","repostId":0,"isVote":1,"tweetType":1,"viewCount":602,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":["VIXmain","ESmain","GTLS"],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":644,"xxTargetLangEnum":"ORIG"},"commentList":[{"id":245294075191360,"commentId":"245294075191360","gmtCreate":1700910289639,"gmtModify":1700910296721,"authorId":4123471905369072,"author":{"id":4123471905369072,"idStr":"4123471905369072","authorId":4123471905369072,"name":"melson","avatar":"https://community-static.tradeup.com/news/fe7079b4776e26217c92d8df6830df10","vip":1,"currentWearingBadge":{"badgeId":"1f541396f99840fb977d0ab0ce343c94-1","templateUuid":"1f541396f99840fb977d0ab0ce343c94","name":"Weekly Top Contributor","description":"Contributors with best Editor's Picks every week","bigImgUrl":"https://static.tigerbbs.com/271475ceaf67d40016c8cfa16c08c8b3","smallImgUrl":"https://static.tigerbbs.com/5a6336061b9ba82ba9177c7ec476f5f2","redirectLinkEnabled":1,"redirectLink":"https://ttm.financial/TW/9000980585","hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":5,"allocatedDate":"2022.12.12","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":2004},"hat":"https://static.tigerbbs.com/ae1f49570794979e009a5efdeb6f4789","crmLevel":6,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":245275813404864,"objectIdStr":"245275813404864","type":1,"supId":0,"supIdStr":"0","prevId":0,"prevIdStr":"0","content":"market makers decide","text":"market makers decide","html":"market makers decide","likeSize":1,"commentSize":1,"subComments":[{"id":245309961597056,"commentId":"245309961597056","gmtCreate":1700914037713,"gmtModify":1700914045040,"authorId":3576339097425722,"author":{"id":3576339097425722,"idStr":"3576339097425722","authorId":3576339097425722,"name":"Asphen","avatar":"https://community-static.tradeup.com/news/55ff1b64b2787933c17d863ecae83f09","vip":1,"currentWearingBadge":{"badgeId":"1f541396f99840fb977d0ab0ce343c94-1","templateUuid":"1f541396f99840fb977d0ab0ce343c94","name":"Weekly Top Contributor","description":"Contributors with best Editor's Picks every week","bigImgUrl":"https://static.tigerbbs.com/271475ceaf67d40016c8cfa16c08c8b3","smallImgUrl":"https://static.tigerbbs.com/5a6336061b9ba82ba9177c7ec476f5f2","redirectLinkEnabled":1,"redirectLink":"https://ttm.financial/TW/9000980585","hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":2,"allocatedDate":"2022.08.08","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":2004},"crmLevel":8,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":245275813404864,"objectIdStr":"245275813404864","type":1,"supId":245294075191360,"supIdStr":"245294075191360","prevId":0,"prevIdStr":"0","content":"yes for sure.","text":"yes for sure.","html":"yes for sure."}],"verified":10,"allocateAmount":0,"commentType":"hot","coins":0,"score":0},{"id":245971735441472,"commentId":"245971735441472","gmtCreate":1701075734042,"gmtModify":1701075741359,"authorId":4091884160412060,"author":{"id":4091884160412060,"idStr":"4091884160412060","authorId":4091884160412060,"name":"Aqa","avatar":"https://community-static.tradeup.com/news/4a899a6e247bc68815d3a2da3b82a81a","vip":1,"currentWearingBadge":{"badgeId":"9427a906234c4b18a82ec3d7730b7fa8-1","templateUuid":"9427a906234c4b18a82ec3d7730b7fa8","name":"Star Contributor","description":"Have published 3 or more picked posts, and have published at least one picked post and participated in comments within 30 days","bigImgUrl":"https://community-static.tradeup.com/news/1866dcf97a73be1c330f85862546aedc","smallImgUrl":"https://community-static.tradeup.com/news/4f5c5fa8e2c7683bb5a7fce8753ee456","redirectLinkEnabled":1,"redirectLink":"https://ttm.financial/activity/market/2023/star-contributors/","hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2023.03.31","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":2007},"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":2,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":245275813404864,"objectIdStr":"245275813404864","type":1,"supId":0,"supIdStr":"0","prevId":0,"prevIdStr":"0","content":"Liked and shared. 👍🏻","text":"Liked and shared. 👍🏻","html":"Liked and shared. 👍🏻","likeSize":1,"commentSize":1,"subComments":[{"id":245973447192768,"commentId":"245973447192768","gmtCreate":1701076022439,"gmtModify":1701076030920,"authorId":3576339097425722,"author":{"id":3576339097425722,"idStr":"3576339097425722","authorId":3576339097425722,"name":"Asphen","avatar":"https://community-static.tradeup.com/news/55ff1b64b2787933c17d863ecae83f09","vip":1,"currentWearingBadge":{"badgeId":"1f541396f99840fb977d0ab0ce343c94-1","templateUuid":"1f541396f99840fb977d0ab0ce343c94","name":"Weekly Top Contributor","description":"Contributors with best Editor's Picks every week","bigImgUrl":"https://static.tigerbbs.com/271475ceaf67d40016c8cfa16c08c8b3","smallImgUrl":"https://static.tigerbbs.com/5a6336061b9ba82ba9177c7ec476f5f2","redirectLinkEnabled":1,"redirectLink":"https://ttm.financial/TW/9000980585","hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":2,"allocatedDate":"2022.08.08","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":2004},"crmLevel":8,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":245275813404864,"objectIdStr":"245275813404864","type":1,"supId":245971735441472,"supIdStr":"245971735441472","prevId":0,"prevIdStr":"0","content":"thank you","text":"thank you","html":"thank you"}],"verified":10,"allocateAmount":0,"commentType":"hot","coins":0,"score":0}],"isCommentEnd":false,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/245275813404864"}