The SPX (S&P500 Index) price is attempting to breakout above $4000, as earning season kicks off on 1/17/2023.
Bullish scenario: Inverse Head-and-Shoulder price pattern breaks out above $4000 resistance neckline zone. Resistance targets would then be $4085, $4300, $4600.
Bearish scenario: Double-top price pattern rejects price and drops back down to $3900, $3800, $3600. The bottom of the yellow descending wedge trendlines could be an area of support.
Note: be aware of any corporate earnings, breaking/global/fundamental news that could override technical chart setups. Fibonacci retracement levels were selected from 3/2020 to 1/2022.
Bullish scenario: Inverse Head-and-Shoulder price pattern breaks out above $4000 resistance neckline zone. Resistance targets would then be $4085, $4300, $4600.
Bearish scenario: Double-top price pattern rejects price and drops back down to $3900, $3800, $3600. The bottom of the yellow descending wedge trendlines could be an area of support.
Note: be aware of any corporate earnings, breaking/global/fundamental news that could override technical chart setups. Fibonacci retracement levels were selected from 3/2020 to 1/2022.
Follow Me on TradingView, Youtube, X, Instagram.
Social Media links are in my profile.
Boost, comment, share to support.
All posts are not financial advice.
Social Media links are in my profile.
Boost, comment, share to support.
All posts are not financial advice.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Follow Me on TradingView, Youtube, X, Instagram.
Social Media links are in my profile.
Boost, comment, share to support.
All posts are not financial advice.
Social Media links are in my profile.
Boost, comment, share to support.
All posts are not financial advice.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.