The S&P 500 is approaching critical historical resistance levels, just as economic headwinds begin to resurface — particularly the expiration of tariff ceasefire agreements and renewed trade tensions. These overlapping factors could signal an upcoming technical correction.
🔹 From a technical standpoint:
The index is forming a classic multiple-top pattern, typically associated with weakening bullish momentum and potential trend reversals.
However, we remain cautious and will only consider a bearish scenario if the 6200 support level is broken on a daily close.
📉 Proposed Trading Plan:
• Short entry: Only if the daily close is below 6200
• Stop-loss: Daily close above the last top
• Targets in order:
• 5800
• 5500
• 5250
⚠️ Note: Despite the bearish setup, we do not recommend rushing into selling without confirmation of support break.
🔹 From a technical standpoint:
The index is forming a classic multiple-top pattern, typically associated with weakening bullish momentum and potential trend reversals.
However, we remain cautious and will only consider a bearish scenario if the 6200 support level is broken on a daily close.
📉 Proposed Trading Plan:
• Short entry: Only if the daily close is below 6200
• Stop-loss: Daily close above the last top
• Targets in order:
• 5800
• 5500
• 5250
⚠️ Note: Despite the bearish setup, we do not recommend rushing into selling without confirmation of support break.
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Check out my Twitter account
twitter.com/Gann540
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540academy.com
Check out my Twitter account
twitter.com/Gann540
Check out my Twitter account
twitter.com/Gann540
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.