11/26/23 SPX Weekly Outlook

11/26/23 SPX Weekly Outlook

#SPX #WeeklyOutlook:

Last week did as expected by continuing to take out highs. We were busy Sunday to Wednesday and stalled out on early market closure because of the holiday. Next week should be busy with a lot of news and we may also get some early reports on Black Friday and Cyber Monday sales. We have news to watch out for everyday up until Friday at 11am when Powell speaks. However, we don’t have #NFP until next Friday. So #powell, #UnemploymentClaims, #PCE, #gdp, #Consumerconfidence, will be the big news releases to watch out for

#BullishCase: Currently taking the PDL, however, below this low are the following +POIs, a D+B and two 4H+FVGs. On the LTFs, we need to see how price reacts below this PDL and on the LTF if we get new +POIs with these ranges.

#BearishCase: The PDL from Friday is also our POI for the sell setup as well. We need to watch the LTFs for an impulse through the low and on the LTFs once we trade through the low wait for a fresh -POI for a LTF setup.

1H chart