Technical Analysis on .SPX

$S&P 500(.SPX)$ thoughts: A déjà vu scenario. I don't mind considering the scenario that repeats a similar path as the decline from last July through October. That corrective move was made difficult precisely because of a multi week period of uncertainty that created confusion for both bull and bear participants.

Here is how I am thinking about it. In the decline from July - October 2023 the 2-3 week period of chop showed the market's positive bread as short lived (middle panel) and momentum stalling, barely going above positive (PPO lower panel).

Considering these as markers, the analysis becomes simplified in that breadth should remain stressed and momentum fail to gain any meaningful traction if a similar decline path is in development.

The alternate to this is a simpler corrective move. I maintain my bias towards the pullback not yet being complete and targeting the 4800 as a minimum and 4500-4600 range under a more severe outcome.

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Monetary policy, various types of price indices... Here is everything about the macro economy!

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HardyJenny
04-29
HardyJenny
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Here is everything about the macro economy!","image":"https://static.tigerbbs.com/b92fcdcbb675f48af67c8cfbd53f43a3"}],"images":[{"img":"https://community-static.tradeup.com/news/bdba59629f6488f1bbac3c85f7b36ec4","width":"916","height":"582"}],"coverImages":[{"img":"https://community-static.tradeup.com/news/bdba59629f6488f1bbac3c85f7b36ec4","width":"916","height":"582"}],"title":"Technical Analysis on .SPX","html":"<html><head></head><body><p> <a data-mention-id=\".SPX\" class=\"teditor-mention\" data-mention-name=\"S&amp;P 500\" href=\"https://ttm.financial/S/.SPX\">$S&amp;P 500(.SPX)$</a>  thoughts: <em>A déjà vu scenario. </em>I don't mind considering the scenario that repeats a similar path as the decline from last July through October. That corrective move was made difficult precisely because of a multi week period of uncertainty that created confusion for both bull and bear participants. </p><p>Here is how I am thinking about it. In the decline from July - October 2023 the 2-3 week period of chop showed the market's positive bread as short lived (middle panel) and momentum stalling, barely going above positive (PPO lower panel). </p><p>Considering these as markers, the analysis becomes simplified in that breadth should remain stressed and momentum fail to gain any meaningful traction if a similar decline path is in development. </p><p>The alternate to this is a simpler corrective move. I maintain my bias towards the pullback not yet being complete and targeting the 4800 as a minimum and 4500-4600 range under a more severe outcome.</p><p class=\"t-img-caption\"><img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/bdba59629f6488f1bbac3c85f7b36ec4\" tg-width=\"916\" tg-height=\"582\"><span>Image</span></p><p></p><p><em>Follow me to learn more about analysis!!</em></p><p>https://twitter.com/tomthetrader1/status/1784581067476967859</p></body></html>","htmlText":"<html><head></head><body><p> <a data-mention-id=\".SPX\" class=\"teditor-mention\" data-mention-name=\"S&amp;P 500\" href=\"https://ttm.financial/S/.SPX\">$S&amp;P 500(.SPX)$</a>  thoughts: <em>A déjà vu scenario. </em>I don't mind considering the scenario that repeats a similar path as the decline from last July through October. That corrective move was made difficult precisely because of a multi week period of uncertainty that created confusion for both bull and bear participants. </p><p>Here is how I am thinking about it. In the decline from July - October 2023 the 2-3 week period of chop showed the market's positive bread as short lived (middle panel) and momentum stalling, barely going above positive (PPO lower panel). </p><p>Considering these as markers, the analysis becomes simplified in that breadth should remain stressed and momentum fail to gain any meaningful traction if a similar decline path is in development. </p><p>The alternate to this is a simpler corrective move. I maintain my bias towards the pullback not yet being complete and targeting the 4800 as a minimum and 4500-4600 range under a more severe outcome.</p><p class=\"t-img-caption\"><img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/bdba59629f6488f1bbac3c85f7b36ec4\" tg-width=\"916\" tg-height=\"582\"><span>Image</span></p><p></p><p><em>Follow me to learn more about analysis!!</em></p><p>https://twitter.com/tomthetrader1/status/1784581067476967859</p></body></html>","text":"$S&P 500(.SPX)$ thoughts: A déjà vu scenario. I don't mind considering the scenario that repeats a similar path as the decline from last July through October. That corrective move was made difficult precisely because of a multi week period of uncertainty that created confusion for both bull and bear participants. Here is how I am thinking about it. In the decline from July - October 2023 the 2-3 week period of chop showed the market's positive bread as short lived (middle panel) and momentum stalling, barely going above positive (PPO lower panel). Considering these as markers, the analysis becomes simplified in that breadth should remain stressed and momentum fail to gain any meaningful traction if a similar decline path is in development. The alternate to this is a simpler corrective move. I maintain my bias towards the pullback not yet being complete and targeting the 4800 as a minimum and 4500-4600 range under a more severe outcome. 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