SPX500 Plans; Crucial Understanding Of Sentiment

31 Jul 2024

Powell has just mentioned broader disinflation occurring, and also the need to be less restrictive on rates.

This is propelling SPX long momentum.

If you are looking to trade the SPX, there's a few things you need to know first.

1 Agu 2024

Catatan

Price just drifting back to highs as expected. Positive sentiment remains and until this is broken, unlikely you will see major falls. Ultimately, just not yet.

2 Agu 2024

Catatan

Risk off environment via ISM. May not last, be careful.

3 Agu 2024

Catatan

Early Support Level Hit.



Remember, the only thing that will continue this lower is further negative sentiment into next week. Ultimately I expect this to occur, but if it does not immediately and fears subside, then price may returns to highs.

5 Agu 2024

Catatan

More fear smashing the SPX, similarly to other risk on assets.

Entries, if any, small.

6 Agu 2024

Catatan

Sentiment (fear) waning on more comfortable tone and some yen pair bounces.~

Would not be surprised if sentiment resumes south.

7 Agu 2024

Catatan

9 Agu 2024

Catatan

Still no extreme confidence as price drifts. Any longs I'd consider closing.