Forecast and levels for S&P 500 - page 47

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Sergey Golubev
Moderator
112529
Sergey Golubev  

Forum on trading, automated trading systems and testing trading strategies

Press review

Sergey Golubev, 2019.08.31 19:07

S&P 500 - ranging to breakout; 3,027 is the key (based on  the article)

S&P 500 Ichimoku chart by Metatrader 5

  • "The Doji Star and Shooting Star Japanese Candlestick patterns are part of a unique group that identifies potential price reversals, support/resistance and can often build into other types of patterns.  Our belief is these setups in the current chart will eventually create an Evening Star formation with a downside price move early next week.  This type of pattern would confirm resistance near the body of the current Doji or Shooting Star candlestick and also confirm our analysis that a price breakdown should continue."

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The charts were made with Ichimoku market condition setup (MT5) from this post (free to download for indicators and template) as well as the following indicators from CodeBase:


Sergey Golubev
Moderator
112529
Sergey Golubev  

Forum on trading, automated trading systems and testing trading strategies

Press review

Sergey Golubev, 2019.09.07 11:10

S&P 500 - daily bullish breakout; 2,985 and 3,026 are the keys for the bullish trend to be continuing (based on the article)

S&P 500 daily Ichimoku chart by Metatrader 5

  • "Bulls appear to be taking control with the index making a topside breach of the 2940-60 resistance zone. The S&P 500 looks to be making a move to test the 3000 level with the RSI providing confirmation of an upside bias having hit a 5-week peak. For now, the focus will be on how the market responds to any modest pullbacks. Initial support is situated at 2968 (76.4% Fibonacci retracement), while the 50DMA resides at 2937. If indeed the index posts a closing break above 3000, this implies a potential move back towards record highs again."

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The charts were made with Ichimoku market condition setup (MT5) from this post (free to download for indicators and template) as well as the following indicators from CodeBase:


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