SPX long scalp within the consolidation? 🤔

Hello, good day traders! 👋🤙

I'm looking for a potential buy📈 setup for $S&P 500(.SPX)$ , with both fundamental and technical indicators to back it up.

📰Fundamentally,

In terms of the 200-day moving average, the SPX rose above this trendline on Wednesday, which has historically had bullish implications, after spending a long time below this popular moving average.

🤔On the technical front,

1.) Looking at the H4 chart, my overall bias is bullish with the price above the Ichimoku cloud, indicating a bullish market.

2.) Looking for a potential buy entry at 3907.07, where the 50% Fibonacci line is.

3.) Stop loss will be set at 3806.91, where the 38.2% Fibonacci line is.

3.) I am looking to take profit at 4097.29 where the 78.6% Fibonacci line is located.

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Trade Entry recommendations:

Buy Entry: 3907.07📈

Take Profit: 4097.29 💲

Stop Loss: 3806.91❌

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Other tickers to recommend:

For 5x Long Leverage: $S&P 5xLongSG250228(CUEW.SI)$

For 5x Short Leverage: $S&P 5xShortSG250228(CXBW.SI)$

Bear vs. Bull: Expectations in H2 2023

With Major index and Techstocks riding the Markets, headlines and market analyses saying that stocks are in a bull market, But is this really a bull market? ---------- How long will the bull market continue? What's your understanding？ Any perspectives or factors give your clear sign？ Do you have your own plan for H2 2023？ How will you trade?

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

LeilaLynch
2022-12-07
LeilaLynch
SPX 4120 is strong resistance, then 4180 (which is my max target). On the downside, 3937 needs to be broken for the trend to turn down. I will start shorting around here with a protective stop on a close above SPX 4120. GL.
KittyBruno
2022-12-07
KittyBruno
Be careful bulls. There's nothing bullish right. Bears are absolutely targeting that CPI gap. Without a bull catalyst to change course, all pullbacks should be sold into on buyer exhaustion.
EmilyMark
2022-12-07
EmilyMark
Be careful bulls. There's nothing bullish right. Bears are absolutely targeting that CPI gap. Without a bull catalyst to change course, all pullbacks should be sold into on buyer exhaustion.
Samlunch
2022-12-07
Samlunch
Looks good the set up
YenEr
2022-12-08
YenEr
🙃
Pooi123
2022-12-07
Pooi123
👍