SPX/ Fed & Earnings to Drive S&P 500’s Next Move

29 Jan

The market is at a crucial point, with earnings results and the Fed’s interest rate decision expected to drive strong movements. As long as the price holds above 6,040, bullish momentum is likely to continue, with a breakout above 6,122.9 potentially leading to new highs.

However, a 4-hour candle close below 6,040 would confirm bearish pressure, signaling a correction toward 5,997.6, 5,937.5, and lower support levels. The monthly trend remains bullish, but volatility is expected. The key level to watch is 6,040, as it will determine whether the market sustains its uptrend or shifts to a bearish phase.

Tendency Keys: 6040
Resistance Line 6099, 6122, 6160
Support Line: 6040, 5997, 5937

30 Jan

Dagangan aktif

The price is holding above 6,040, confirming it as support, and is moving toward the 6,099 resistance level. A breakout above 6,099 could lead to further gains toward 6,122 and potentially 6,160.3. If rejection occurs at 6,099, a pullback toward 6,040 is possible before another attempt higher. The market remains bullish as long as 6,040 holds.