Weekly Analysis for #SPX for 15-19 March 2021
Trend: Daily/Weekly/Monthly: Up/Up/Up
Super bullish week for indices except NDX. Continuation for the coming week is expected, isn’t it? However, we have important resistance just above.
3 possible scenarios:
1) As long as 3951-61.9 resistance zone holds, look for shorts targeting 3841-71 support zone. This zone should hold for a next leg up, to 4033.
2) We have a fast rally from open to 4033-61 resistance zone, by Tuesday or Wednesday, where we see a sharp rejection for a strong move down to 3871.
3) SOMEHOW (I can’t see any trigger except NDX weakness), we open in Globex and sell off start, target 3791 before a bounce to 3841-71 and further selling to 3739
IMO, scenario 1 is most likely.
Super bullish week for indices except NDX. Continuation for the coming week is expected, isn’t it? However, we have important resistance just above.
3 possible scenarios:
1) As long as 3951-61.9 resistance zone holds, look for shorts targeting 3841-71 support zone. This zone should hold for a next leg up, to 4033.
2) We have a fast rally from open to 4033-61 resistance zone, by Tuesday or Wednesday, where we see a sharp rejection for a strong move down to 3871.
3) SOMEHOW (I can’t see any trigger except NDX weakness), we open in Globex and sell off start, target 3791 before a bounce to 3841-71 and further selling to 3739
IMO, scenario 1 is most likely.
Join me for free on Patreon (www.patreon.com/fademeifyoucan) to receive my daily FX and indices trading plan.
DM me to join my new group to learn all my trading levels and to trade together.
DM me to join my new group to learn all my trading levels and to trade together.