S&P500 has activated a short term, at least, sell sequence.

8 lug 2023

S&P500 has a 3 day bearish streak. Both medium and long term patterns are Channel Ups.
The medium term has the MA50 (1d) as the Rising Support and the long term the MA200 (1d).
At the moment, it seems that a Megaphone consolidation such as April-May is in order.

Trading Plan:
1. Sell on the current market price.
2. Buy at 4310 (bottom of the medium term Channel Up).
3. Sell if a (1d) candle closes under the MA50 (1d).
4. Buy at 4130 (bottom of the long term Channel Up).

Targets:
1. 4310 (bottom of the medium term Channel Up).
2. 4640 (Resistance 2).
3. 4130 (bottom of the long term Channel Up).
4. 4640 (Resistance 2).

Tips:
1. The RSI (1d) is exactly at the bottom of its Channel Up. A break under it, is a sell confirmation.
2. There have been two -9% corrections since December 2022. A new one would push the price straight to the MA200 (1d) which is intact since March 24th.

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Notes:
Past trading plan: