S&P500 - The Most Important Channel Breakout!

21 nov 2024

S&P500 (SPX) is retesting a crucial breakout area:



Click chart above to see the detailed analysis👆🏻

During 2024, the S&P500 rallied more than 25% after we already saw a very bullish year of 2023. However, momentum is always more likely to continue and since the S&P500 is currently retesting a major breakout level, this bullish momentum could lead to a final breakout.

Levels to watch: $6.000

Keep your long term vision,
Philip (BasicTrading)

28 nov 2024

Trade attivo

Trading update on S&P500 (SPX):



Click chart above to see the detailed analysis👆🏻

With only 1 trading day left to go, it is quite likely that the S&P500 will actually close above the magical upper resistance trendline, which is also a psychological level. If we see this confirmed breakout, the S&P500 is clearly heading for another clean final rally of about +15% over the next couple of months.

Levels to watch: $6.000, $7.000

Keep your long term vision,
Philip (BasicTrading)

10 dic 2024

Trade chiuso: obiettivo raggiunto

Trading update on S&P500 (SPX):



Click chart above to see the detailed analysis👆🏻

It all comes down to the final month of 2024: Will the S&P500 actually confirm the breakout above the major bearish resistance trendline or will this still turn into a false breakout. So far bulls are totally in control of the entire stock market and momentum usually continues for much longer than expected.

Levels to watch: $6.000, $7.000

Keep your long term vision,
Philip (BasicTrading)