Time frame 1 day. Logarithm. Secondary trend. Expanding triangle. Reversal zone. Key levels are shown. Dates marked the key time zones of potential events that can greatly affect the markets and the index of the American economy in the first place.
The end of October and the beginning of November will most likely be unnecessarily wavy in the markets. If so, don't miss your chance to “accidentally get rich”.
This is how it looks on a line chart.
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289/44
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SP500 Index. Pumping before the "Great Depression" Code 372-69
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SP500 index. The whole trend. The 100th Anniversary
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Reaching (about +8%) the resistance zone of the expanding triangle 4084.19 and from it the beginning of the fall. At the moment there is a breakout of the local uptrend line (green).
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Price in the 3911-3844 (3/911 - 38/44) zone.
We can overlay a downtrend channel on the expanding triangle to visualize a potential reversal zone (3491-3378), if the full price fall targets of the expanding triangle are not realized.
Also do not forget although the local uptrend is broken, a break and fixation above 3911 (3/911) can stop the fall.
The chart showed two Stop-Loss breakout zones before trend reversals.
1) The first before a significant rise of +18.92% Stop-Loss long. 2) The second one now. Stop-Loss short.
Watch the index. Limit losses. Protect profits. When working on the shorts, be sure to use Stop-Loss now, but with an understanding of where to put it, so as not to knock out before the time. Do not be greedy and cowardly. If a downtrend develops (breakout 38 44), be sure to drop your stop after the decline (profit protection).
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Price has reached the resistance of the downtrend +385% and a pullback from it. Local dates on the chart. Be extremely careful. The index is an "indicator" of the big capital and direction of the markets, which can trigger a "domino effect".
If there is a breakout on the 5th attempt and a consolidation above the downtrend secondary - positive on the markets. Pump Cycle. The trend right now is that the inflation rate is supposedly going down. This is a positive.
If this fractal structure works out as it did before, sad. Working off the downward expanding triangle targets. But, if that happens, there must be a grand event in the USA ("black swan").
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this important zone on a line chart without "market noise".
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Local Work. This index of the U.S. economy, is an indicator of the mood of the markets, including cryptocurrency.
Positive (January 26) about the decrease of inflation rate raised the price of the index to the level of 4084.19. Thereby forming a bowl. An important resistance zone before the Fed meeting on February 1 on the rationality of interest rate cuts. It is very likely to be positive. If that happens, the index price will move out of the expanding downward triangle zone for a while...
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this secondary downtrend (the entire 380-day price decline) and this reversal zone in it looks so bright on the line chart.
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The price from the level of 4176.93 decreased to the dynamic support of the ascending channel. The reversal zones are indicated.
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Price at the support of the ascending channel of the secondary trend. An important moment for the markets. The price zone, the decoupling of which will give the medium-term trend direction of both the stock market and, with a large degree of probability, the cryptocurrency market.
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From the reversal zone from the breakdown of the 4004 level, the price is moving in an ascending channel, has reached almost its historical highs of the previous trend. Now we are in the resistance zone under the level of 4630. The price has formed a large ascending wedge in the channel. A significant pullback is possible (working off the targets of the rising wedge, i.e. falling into the range of the rising channel to begin with), perhaps not immediately, but there is still a small potential.
Also possible is consolidation under the 4630 resistance as its centerpiece for an extended period of time, then depending on the political plans, an upside breakout and excitement or, conversely, a significant pullback. It is likely that some political "bullshit" news will "tweak" the chart.
It is important that a large bowl has formed on the secondary trend. It is clearly visible on the line chart. Therefore, when pulling back from its resistance to continue the trend (so as not to scare investors with overbought), the formation of a bowl with a handle is quite appropriate.