SPX500 Plans; Crucial Understanding Of Sentiment

31 juil. 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 août 2024

Note

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 août 2024

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

3 août 2024

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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 août 2024

Note

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

Entries, if any, small.

6 août 2024

Note

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

Would not be surprised if sentiment resumes south.

7 août 2024

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9 août 2024

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