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Strategies & Market Trends : News Links and Chart Links

SPXL 222.70

+1.6%

Nov 28 4:00 PM EST

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From: Les H	1/28/2023 7:51:05 PM
	of 29600

The daily S&P 500 (SPX) has an active TD Sell Setup @5 and on the path to complete the TD Setup phase. This can be done with a TD Sell Setup @8 on Wednesday, January 31st or TD Sell Setup @9 on Thursday, February 1st. It is also expected to be the time where the SPX will have the first test to the longer term bullish outlook. On the economic calendar, the FOMC will also conduct their rate policy on Wednesday, January 31st, which provides a potential catalyst for a price exhaustion reversal. If the SPX is able to achieve a TD Sell Setup @8 or @9, and price is in the proximity of the 4183.10 TD Trend Factor, it strengthens the cause for a reversal. The TDST Resistance at 4110.41 has significance in such that it can hinder the ability the SPX to complete a 9 count. If this is the case, there is potential for the SPX to accelerate higher as TD Sell Setup counts will be reset. No matter what happens next Wednesday, the longer term bullish trend stays intact as long as the weekly SPX TD Sell Setup stays intact. Staying above SPX 4000 will help that cause. tradetrekker.wordpress.com

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