S&P500 has almost reached the medium-term TP (4,220) so we are booking the profit on last Friday's buy position. The 1W timeframe is on steady green levels technically (RSI = 58.257, MACD = 54.060, ADX = 33.739) but the RSI is at the top of its Rising Wedge, indicating a possible loss of strength. We expect a pull-back to S1 and will buy it, targeting R1 (TP = 4,330), which is the High of August 2022.
On the long term the bullish trend is intact (Channel Up) and we have an additional reason to expect a new Bull Cycle, as the 1W Ichimoku Cloud has turned green and when that happened in the past, the 1W MA50 usually turns into the long term Support for many months before a correction.
Prior idea:
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On the long term the bullish trend is intact (Channel Up) and we have an additional reason to expect a new Bull Cycle, as the 1W Ichimoku Cloud has turned green and when that happened in the past, the 1W MA50 usually turns into the long term Support for many months before a correction.
Prior idea:
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## Comments and likes are greatly appreciated. ##
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Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
Disclaimer
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Telegram: t.me/investingscope
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.