SPX500 TREND LINES, PIVOT and APEX POINT VIEW

Aug 31

The SPX500 if manage to close above the last high of 5670 on Daily TF then expect the price to hit the TL.R at 5764 from where the prices can fall back a bit and then move for the next target to TL.B2 at 5810 and if it closes above that point then you can expect the price to move to take over the PIVOT R3 at 61110, but if it is rejected then expect the price to fall towards PIVOT R2. Trend Line green and TL.R form a widening channel. If the price fall back the TL.B1 and Closes Below Pivot R2, then Expect the price bounce from the Trend line green. The main scenario of the price action shows that if the price is not rejected from the previous high of 5670, then price will surely lead to take over the TL.R and TL.B2. On Contrary if price rejected sharply from the TL.B2 and closes below PIVOT R2, then price may continue to fall towards PIVOT R1. Please leave your comments and your suggestions. Expected Movement for the rest of the year will be in between the two apex points 5410 and 5747. Any Voilation of these points will determine the further direction of the SPX price movement.

Sep 14

Note

The price has tested Lower apex point line and reached to 5388 from where it returned and closed to 5622 on Sep. 13, 2024. Now I am expecting this to test the upper apex point line at 5747.

Sep 19

Note

Latest High 5725, Hopefully 5747 will be achieved.

Sep 26

Note

Target Achieved.

Sep 26

Note

Now if the price close above 5775, then expect price to reach the new height of 6000 plus.

4 days ago

Note

Possible Target: 5972

3 days ago

Trade active

5984.62 Was hit today.