SP500 Technical Analysis

Elliott Wave: Wave (c) of b) towards 2900 the 61.8% retracement level

TradingLevels: Minor Level (mTL8|2800 is the support and any further upside would require the top of Sub-Group1 (SG1|2830) as the tested support. If the 2820 becomes the resistance then it's going to test new lows

Day Trading Strategy: See SP500 Video

Peter Mathers - tradinglounge.com

 

As with any investment opportunity there is a risk of making losses on investments that Trading Lounge expresses opinions on.

Historical results are no guarantee of future returns. Some investments are inherently riskier than others. At worst, you could lose your entire investment. TradingLounge™ uses a range of technical analysis tools, software and basic fundamental analysis as well as economic forecasts aimed at minimizing the potential for loss.

The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without considering your objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice considering your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in securities and derivatives products is appropriate for you considering your financial circumstances.

Recommended Content


Recommended Content

Editors’ Picks

EUR/USD rises toward 1.0700 after Germany and EU PMI data

EUR/USD rises toward 1.0700 after Germany and EU PMI data

EUR/USD gains traction and rises toward 1.0700 in the European session on Monday. HCOB Composite PMI data from Germany and the Eurozone came in better than expected, providing a boost to the Euro. Focus shifts US PMI readings.

EUR/USD News

GBP/USD regains 1.2350 ahead of UK PMIs

GBP/USD regains 1.2350 ahead of UK PMIs

GBP/USD is recovering ground above 1.2350 in the European session, as the US Dollar comes under fresh selling pressure on improving risk sentiment. The further upside in the pair could be capped, as traders await the UK PMI reports for fresh trading impetus. 

GBP/USD News

Gold price flirts with $2,300 amid receding safe-haven demand, reduced Fed rate cut bets

Gold price flirts with $2,300 amid receding safe-haven demand, reduced Fed rate cut bets

Gold price (XAU/USD) remains under heavy selling pressure for the second straight day on Tuesday and languishes near its lowest level in over two weeks, around the $2,300 mark heading into the European session.

Gold News

PENDLE price soars 10% after Arthur Hayes’ optimism on Pendle derivative exchange

PENDLE price soars 10% after Arthur Hayes’ optimism on Pendle derivative exchange

Pendle is among the top performers in the cryptocurrency market today, posting double-digit gains. Its peers in the altcoin space are not as forthcoming even as the market enjoys bullish sentiment inspired by Bitcoin price.

Read more

US S&P Global PMIs Preview: Economic expansion set to keep momentum in April

US S&P Global PMIs Preview: Economic expansion set to keep momentum in April

S&P Global Manufacturing PMI and Services PMI are both expected to come in at 52 in April’s flash estimate, highlighting an ongoing expansion in the private sector’s economic activity.

Read more

Majors

Cryptocurrencies

Signatures